The company sold out of platinum group metals in September 2025 and plans to sell or demerge its majority-owned De Beers diamonds business. In September 2025, Anglo American and Teck Resources announced they had reached an agreement to combine in a merger of equals to form Anglo Teck.
Cyborg Score Rationale
Citigroup upgraded Anglo American to buy with a GBX 4,500 price objective in February 2026. The company's copper mines are relatively low cost with long remaining lives and options to expand. However, the restructuring increases exposure to softening commodity demand from China.
Top Insights
Merger of equals with Teck Resources announced September 2025 to create a diversified mining powerhouse.
Major portfolio rationalization: divesting diamonds and platinum to focus on copper, iron ore, and crop nutrients.
Competitive advantage in low-cost copper with optionality for expansion.
Leading sustainability initiatives including world's largest hydrogen-powered mine haul truck deployed at Mogalakwena mine.
Named Competitors
Rio Tinto — Global diversified mining and metals producer
Glencore — Diversified mining and metals trading company
BHP — Major diversified mining company (made bid for Anglo American in 2024)
Teck Resources — Merger partner - combining as Anglo Teck (announced September 2025)
Recent Developments
(February 2026) Citigroup upgraded stock to buy rating with GBX 4,500 target
(September 2025) Valterra Platinum demerged as independent company; announced Teck merger
(May 2024) Strategic restructuring announced to focus on copper, iron ore, crop nutrients
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