Anglo American shares jumped more than 9% in London after the miner announced a $50 billion merger with Canada’s Teck Resources, creating the biggest tie-up in the mining industry in over a decade. The deal, which will give Anglo investors 62.4% of the combined company and Teck shareholders 37.6%, will be structured on a zero-premium basis. Each Teck share will convert into 1.3301 Anglo shares, while Anglo will return $4.5 billion to its investors via a special dividend.The new entity, Anglo Teck, will be headquartered in Vancouver but retain its London primary listing, with other listings in Johannesburg, Toronto and New York. Duncan Wanblad, Anglo’s chief executive, will continue to lead, while Teck’s Jonathan Price will become deputy CEO. The companies expect annual cost savings of $800 million within four years.What Does This Mean for Me?The move signals Anglo’s determination to chart its own course after fending off BHP’s $40 billion takeover bid last year, a deal that collapsed over disputes regarding Anglo’s South African assets. Teck itself had been targeted by Glencore, which ultimately bought its steelmaking coal business for $6.9 billion.Regulatory approvals are expected to take 12 to 18 months, and the agreement includes a $330 million break fee if a higher bid emerges. For now, markets are focused on the strategic message that Anglo is consolidating strength in copper and showing resilience against further opportunistic bids.