TNRD to voice support for proposed Anglo-Teck merger

The Thompson-Nicola Regional District (TNRD) is voicing its support for the proposed merger between Teck Resources and British multinational mining company Anglo American.

The two companies announced plans last month to create a $70-billion copper mining giant — Anglo Teck — which will be headquartered in Canada. The deal also included a commitment to spend $4.5 billion in Canada over five years and experts say the merger could help Canada boost production of critical minerals.

TNRD vice-chair Robin Smith, who is mayor of Logan Lake, said the proposed merger will greatly benefit her community, which is located near the Highland Valley Copper mine. A major expansion to extend the life of the mine to 2048 is currently underway.

“The District of Logan Lake has provided a letter of support [for this merger],” Smith said at Thursday’s (Oct. 2) TNRD meeting. “If everything moves forward the way that they’re suggesting, it is going to be a huge impact to all of the areas within the regional district.”

“It is a little bit daunting and a little bit frightening wondering how we’re going to house all of these people, but at the same time, I think it means very good things for our area.”

At Thursday’s TNRD meeting, board chair Barbara Roden, who is mayor of the Village of Ashcroft, said her community is also in support of the proposed merger.

“[Logan Lake] and the Village of Ashcroft held a special council meeting before UBCM and we have also sent a letter of support in support of this merger,” Roden said.

The City of Kamloops is also being asked to send a similar letter of support and that request will be discussed at Tuesday’s (Oct. 7) council meeting.

While B.C. Premier David Eby has called the proposed merger “a vote of confidence” that shows the province is a global hub for mining, Canada’s Industry Minister Melanie Joly says Ottawa wants to see longer-term commitments to Canada, noting the two companies will have to convince her that the merger is in the national interest.

At least one First Nations chief has also voiced concerns about the proposed merger, fearing a deal of that scale will ignore Indigenous rights and title.

The merger is expected to be complete within 12-to-18 months, pending regulatory and shareholder approvals. It is subject to review by the Investment Canada Act, which can be used to block deals deemed not in the national interest.

Joly has said the federal government will address several issues as it considers the merger, including the joint firm’s pledge to have its senior leadership based in and reside in Canada.