International News
Anglo American and Teck Shareholders clear path for Anglo Teck merger
Shareholders of Anglo American and Teck Resources have approved the proposed merger of equals that will create Anglo Teck, a new Canada-headquartered critical minerals company positioned to become a top five global copper producer.
Teck confirmed the results following its special shareholder meeting, with the full voting report to be posted on SEDAR+ and EDGAR.
Duncan Wanblad, CEO of Anglo American, said the strong shareholder and stakeholder backing marks a major step toward building Anglo Teck. He noted that the merged entity will unite complementary strengths, unlock industrial and operational synergies, and provide investors with more than 70% exposure to copper. Wanblad added that the merger offers both near-term value and long-term growth potential tied to rising global demand for critical minerals.
Both companies will continue working with regulators through 2026 to secure required approvals. The transaction remains subject to customary conditions, including clearance under the Investment Canada Act and competition reviews in multiple jurisdictions.
International News
Massive 11,000-Carat Ruby Uncovered In Myanmar
A massive 11,000-carat rough ruby has been recovered in the famed gem-rich region of Mogok, Myanmar, according to recent state media reports.
Weighing in at 2.2 kg (4 lbs 14 oz), the newly discovered stone is roughly half the size of the legendary 21,450-carat rough gem found in the same region back in 1996. However, experts and state officials report that this new find boasts vastly superior color, luster, and transparency.
Mogok rubies, sourced from the “Valley of Rubies” in Myanmar (Burma), are legendary for their unrivaled vivid color and supreme clarity. They are famous worldwide for their “pigeon blood” red hue, which is caused by trace elements and microscopic silk particles that scatter light and give the gem a glowing, velvety softness.
Key Details of the Discovery:
- Physical Properties:Â The giant gem exhibits a striking purplish-red color with yellowish undertones, excellent vitreous luster, and moderate transparency. It remains entirely in its natural, untreated state.
- Geopolitical Context: Myanmar supplies roughly 90% of the world’s rubies. However, the nation has been embroiled in a devastating civil war since a 2021 military coup—a conflict that has claimed approximately 90,000 lives and displaced over 3.5 million people.
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