Anglo American (AAL) Share Price This Week: Teck Merger Vote Clears, Court Approval Follows — Forecast and Week Ahead (Updated 14 Dec 2025)

Updated: Sunday, 14 December 2025 (14.12.2025)
Company: Anglo American plc
Ticker: LSE: AAL (often quoted in pence, GBp)

Anglo American shares head into the new week with one big story still doing most of the heavy lifting: the proposed $53 billion all‑stock “merger of equals” with Teck Resources, a deal designed to turn the group into a copper-heavy mining heavyweight. The market has largely moved past the “will shareholders approve it?” stage — that box is now ticked — and is pivoting to the messier part: regulators, execution risk, and copper fundamentals. ^[1]

As of this update (Sunday, when markets are closed), the most recent widely reported London price point is around £28.17 (2,817p) after a sharp down day on Friday, leaving the stock down about 5.5% versus the prior week by some market data providers. ^[2]

Anglo American share price: where it ended the week

Friday’s session (12 Dec 2025) was weak for the stock. MarketWatch reported Anglo American fell 2.76% to £28.17, lagging a down day for the FTSE 100, and sitting 7.67% below its 52‑week high of £30.51 (reached on 5 Dec). Volume also ran below its recent average, suggesting the selling wasn’t a full‑blown stampede — but it was decisive. ^[3]

Another market snapshot (Fintel) also pegged the shares at 2,817 GBp on 12 Dec and flagged a -5.47% move from the prior week. ^[4]

What that means in plain English: Anglo American didn’t fall because investors suddenly forgot what copper is. It fell because the market is now pricing the “next chapter” risks — regulatory approvals, integration complexity, and the operational weak spots inside Teck that Anglo is effectively choosing to marry.

The week’s big drivers: merger mechanics, governance optics, and copper risk headlines

1) Anglo American dropped a controversial executive-pay vote (8 Dec)

At the start of the week, Anglo American withdrew a resolution linked to executive incentive awards tied to the Teck merger after pushback from investors. Importantly, Reuters reported the company said the merger was conditional on the share issuance, not on the pay changes, and that Anglo will consult on an updated remuneration policy for the 2026 AGM. ^[5]

This mattered for the stock because it removed a “self-inflicted” governance distraction right before the shareholder meeting — the kind of distraction that can spook institutions and create unnecessary uncertainty around deal votes.

2) Shareholders approved the Anglo–Teck merger (9 Dec)

The merger vote itself is now history: shareholders of both Anglo American and Teck approved the transaction. Reuters reported more than 99% of votes cast by Anglo shareholders supported it, and that the combined company would be headquartered in Vancouver with its primary listing in London. ^[6]

The strategic pitch is straightforward: the combined entity is projected to produce more than 1.2 million metric tons of copper annually, with targeted $800 million in annual cost savings/efficiency gains by year four after completion. ^[7]

Anglo’s own statement also emphasized the same “now we work the regulators” reality: completion remains subject to approvals including the Investment Canada Act and competition/regulatory approvals across multiple jurisdictions. ^[8]

3) Teck received final court approval in British Columbia (12 Dec)

Late-week, Teck said it obtained a final order from the Supreme Court of British Columbia approving the plan of arrangement — another key procedural gate cleared. But Teck also stressed the merger still depends on other customary closing conditions, notably competition and regulatory approvals across jurisdictions. ^[9]

4) A not-so-small risk reminder: Teck’s Quebrada Blanca tailings-dam scrutiny (9 Dec)

In a separate Reuters report that investors can’t ignore, Chilean authorities raised concerns in 2025 about cracks and leaks at Teck’s Quebrada Blanca copper mine tailings dam — a strategic asset for the merger rationale. Reuters described a 240-meter crack and water seepage issues flagged to regulator Sernageomin; Teck said there was never a safety risk and that repairs/monitoring were undertaken. ^[10]

For equity markets, the takeaway isn’t “panic.” It’s valuation math: if a flagship copper asset faces prolonged ramp-up or remediation costs, it can pressure near-term production and capex — and that can compress the upside investors are willing to pay for a copper growth story. Reuters noted Teck has discussed spending $420 million on improvements next year after cutting production guidance. ^[11]

What investors are really buying: the “Anglo Teck” copper thesis

The merger is fundamentally a bet on two things:

Copper demand staying structurally strong (energy transition + electrification + grid build-out + AI/data-center power needs), and
Scale and synergy outperforming the classic mining headaches (capex overruns, permitting delays, operational issues).

Reuters explicitly framed copper demand as rising with electrification and AI-driven electricity needs, helping explain the consolidation wave and the logic behind building a copper-heavy champion. ^[12]

The market tends to reward this kind of “focus” narrative — but only if execution looks credible. That’s why the next phase (regulatory approvals + operational delivery at key mines) will likely dominate Anglo American’s share price catalysts into early 2026.

The biggest hurdle now: regulators (Canada, China, and others)

After the votes and court approval, the deal’s bottleneck is regulatory.

Reuters previously reported Canada will submit the proposed Teck–Anglo merger to a national security review under the Investment Canada Act process, with a final decision expected “in the coming months.” The report also noted Ottawa was seeking commitments including domestic investment and job security, while copper (and germanium, produced by Teck) sits on Canada’s critical minerals list. ^[13]

Reuters also reported that after the shareholder approvals, the next step is to secure approvals in Canada, China and other key jurisdictions, with review likely focused on competition and “national interest” considerations given copper’s status as a critical mineral. ^[14]

Why this matters for AAL stock next week: Regulatory timelines don’t move smoothly — they move in bursts of headlines. Even a small update (information request, extended review period, political comment) can move the stock because the market is now effectively pricing “probability of completion × expected value of synergies.”

Analyst forecasts and price targets: cautious upside, wide dispersion

With merger excitement colliding with regulatory and operational reality, analysts are not singing in perfect harmony — and the dispersion itself is a signal.

Financial Times consensus (12-month)

FT Markets shows 15 analysts with a median 12‑month target of 3,002.54 (high 3,502.84; low 2,001.19). That median implies about 6.59% upside from a last price of 2,817.00. ^[15]

FT also shows dividend expectations changing sharply: Anglo reported a 2024 dividend of $0.73 (down year-on-year), while analysts forecast $0.24 for the upcoming fiscal year — a major drop that reflects how uncertain payout profiles can look during portfolio reshaping and deal cycles. ^[16]

Fintel consensus snapshot

Fintel lists an average one‑year price target around 2,977.72 GBp, with forecasts spanning roughly 2,020 to 3,675 GBp. ^[17]

MarketBeat: “Hold” and a lower target

MarketBeat’s consensus is more conservative: it lists a consensus price target of 2,624 GBp, implying about 6.9% downside from around 2,817 GBp, with a consensus rating of Hold. ^[18]

How to read the gap:

Higher targets generally assume the merger completes without major concessions and that copper fundamentals cooperate.
Lower targets are effectively saying: “Nice story, but show me the regulatory clearance and the operational follow-through.”

Technical and trading perspective: what the tape is hinting at

Purely from a trading standpoint, Anglo American ended the week below its early-December highs. MarketWatch noted the shares were 7.67% below the 52‑week high reached on 5 Dec. ^[19]

One technical model summary (StockInvest) described the stock as a Hold/Accumulate after recent weakness, with nearby support levels in the 2,815p area and a lower trend floor around 2,760p (per that model’s framing). ^[20]

Technical analysis won’t tell you what a regulator in Ottawa or Beijing will do — but it can tell you where traders are likely to react more aggressively.

Week ahead (starting Monday, 15 Dec 2025): the catalysts to watch

With no major Anglo American earnings event immediately ahead, next week’s likely drivers are headline-driven:

1) Any regulatory signals on the Teck deal

Investors will be listening for updates tied to:

Investment Canada Act and the national security / national interest framing ^[21]
Competition reviews in China and other jurisdictions ^[22]

Even “no news” can matter: markets sometimes interpret silence as “process continuing normally,” which can reduce perceived risk and stabilize the share price.

2) Teck operational headlines (Quebrada Blanca) and copper sentiment

Because Quebrada Blanca is strategically important to the merger logic — and because Reuters put a spotlight on tailings-dam scrutiny — any operational update, analyst note, or regulatory comment tied to that asset could move both stocks and the perceived synergy value. ^[23]

3) The “interloper” risk looks lower — but keep it on the radar

In late November, BHP said it was no longer considering a combination with Anglo American, which reduced near-term takeover noise and cleared the runway for the Teck path. ^[24]

That doesn’t mean mining sector consolidation stops being a theme — it just means Anglo American’s immediate narrative is dominated by Teck + regulators.

4) Next scheduled Anglo American milestones (early 2026)

According to Anglo American’s investor calendar, the next major scheduled events are:

Q4 2025 Production Report:05 Feb 2026 (07:00 GMT)
Full Year Results 2025:20 Feb 2026 ^[25]

Until then, expect price action to be more sensitive to (a) copper prices and (b) merger process headlines than to Anglo’s regular reporting cadence.

Bottom line for Anglo American stock (AAL) going into the new week

Anglo American enters the week of 15 December with the “easy” boxes ticked — shareholder approvals and court approval — and the hard work squarely ahead: regulatory clearance, plus managing investor confidence around execution risk at key copper assets.

Analyst targets cluster around modest upside on some platforms (FT, Fintel), but the range is wide and at least one consensus set (MarketBeat) leans cautious. That split is basically the market telling you what it cares about now: deal completion probability and operational delivery, not merger theater. ^[26]