Ottawa has just approved a mining merger so big it doesn’t read like a business story anymore—it reads like a geopolitical move.
In a decision that landed like a thunderclap across Bay Street and the resource world, Industry Minister Mélanie Joly cleared the way for Anglo American and Teck Resources to combine into a new global critical-minerals force—one that Canada is openly branding as a “Canadian giant.”
And here’s the part that has people doing a double-take: this isn’t the familiar Canadian heartbreak where a national champion gets swallowed and quietly relocated. Ottawa’s approval came with conditions so strict they effectively rewrite what “foreign investment” means in Canada.
The global headquarters will be in Vancouver. Not “a major office.” Not “a hub.” The headquarters.
Joly didn’t just approve the deal—she boxed it in with guardrails that force corporate power to live on Canadian soil. According to reporting on the deal’s commitments, two-thirds of senior executives must reside primarily in Canada, and the board must include 50% Canadian representation for seven years, with at least one-third Canadian representation thereafter.
That’s not a handshake. That’s a leash.
The combined company—often described as “Anglo Teck” in coverage—would be among the world’s biggest copper players at the exact moment copper is turning into the metal that decides who wins the next economic era.
Because while oil fueled the last century, copper is wiring the next one: EVs, battery storage, power grids, defense systems, data centers, and AI infrastructure all chew through copper at an alarming rate. Analysts have been warning about looming supply tightness, and the race to secure stable copper supply chains is turning allies into competitors.
So when Canada approves a merger creating a major copper-and-critical-minerals powerhouse headquartered in Vancouver, it’s not just corporate news—it’s leverage.
And Ottawa didn’t stop at boardrooms and postal codes.
Public details tied to the approval and the companies’ commitments include job protections numbering in the thousands and billions in new investment in Canada—signaling the government wanted tangible “net benefit” proof under the Investment Canada Act, not vague promises.
(Reuters also reported the companies committed C$4.5 billion in investment in Canada over five years as part of the approval context.)
British Columbia’s leadership immediately framed it as historic. B.C. Premier David Eby has described the combined company as potentially the largest in the province’s history, a headline-grabbing claim that underscores how intensely Vancouver is being positioned as a global command center for minerals.
And yes—timing matters.
The approval arrives as North America’s trade and industrial strategies are under stress, and companies are desperate for predictable jurisdictions. Reuters characterized Canada’s swift decision as part of a broader pro-investment shift aimed at attracting capital during economic pressure tied to U.S. policy uncertainty.
That’s the subtext behind Joly’s “Canadian giant” messaging: Canada isn’t just “participating” in the critical-minerals scramble anymore. It’s trying to own a bigger piece of it—with decision-making anchored at home.
Of course, this isn’t the final boss fight. Canada’s approval is a major hurdle cleared, but the merger still faces other jurisdictions’ regulatory processes.
Still, the signal is unmistakable: Canada is learning to play power politics with the tools that actually matter in 2025—resources, governance control, and where the headquarters sits.
Because tariffs can come and go. Speeches can trend and disappear.
But when the boardroom, the executive suite, and the taxes are anchored in Vancouver—that’s not a headline. That’s a structure.