Anglo American and Teck Forge $53 Billion Copper Giant as Hecla Mining Surges ( $HL TECK-B.TO AAL.L $SLV )

By John F. Heerdink, Jr.

London-listed Anglo American (AAL.L) and Canada’s Teck Resources (TECK-B.TO) have sealed a transformative, “merger of equals” deal that will reshape the mining landscape—creating a copper powerhouse with a combined market capitalization north of $53 billion, headquarters in Vancouver, and core operations spanning London and Johannesburg. As investors absorb this landmark news, Hecla Mining (HL) has emerged as a standout performer—riding strong Q2 results and surging silver prices to fresh 52-week highs and YTD returns over 105%, far outpacing the broader market.

Anglo American–Teck Merger

The deal, announced September 9, brings together Anglo American’s 44% Collahuasi stake with Teck’s nearby assets, positioning the new entity among the world’s top five copper producers, boasting annual output around 1.2 million metric tons. Anglo shareholders will own roughly 62%, Teck holders 38%, and a $4.5 billion dividend sweetens the arrangement for Anglo investors. This transaction is not only the biggest mining M&A of the decade, but also signals a strategic bet on copper—critical for both electric vehicles and AI datacenter infrastructure—amid rising global demand.

Industry Minister Melanie Joly highlighted the Canadian commitment, with Vancouver set as global HQ and a pledge to maintain senior management in-country. Market participants welcomed the deal: Anglo shares jumped 10% and Teck surged over 14% in early trading, reflecting optimism about the new copper champion’s prospects.

Hecla Mining: Resilient Performance

Against this backdrop, Hecla Mining delivered a record quarter, reporting nearly $930 million in Q2 revenue—buoyed by robust silver and gold output, EBITDA margins of 34%, and net income tracking at $57 million. These better-than-anticipated results powered HL shares to intra-week gains of 12–13% and a 52-week high of $10.18, marking a remarkable 62% increase over the past year and 105% YTD, compared to the S&P 500’s more modest 10% YTD climb.

Hecla’s strong fundamentals—low debt, healthy liquidity, and strategic investment in flagship mines like Greens Creek and Keno Hill—seem to be driving market confidence. The company projects silver output between 35.5–39 million ounces for 2025, and analysts are reportedly upgrading expectations for net income and continued earnings momentum.

Strategic Landscape

The Anglo–Teck deal underscores the sector’s appetite for copper and strategic scale, while Hecla’s performance confirms that precious metals miners are also enjoying tailwinds from global uncertainty and commodity rallies. For investors seeking exposure to resource leadership, both Anglo Teck’s consolidation play and Hecla Mining’s operational excellence present compelling narratives for the year ahead.