The London-based miner is moving ahead with its plan to create a $76-billion copper giant by buying Teck Resources, despite Teck’s revelation on Wednesday that it will produce less of the metal than it expected this year. (The Logic)

Talking point: Teck sharply cut its copper forecast due to downtime at its Chilean mine, where the company is struggling to construct a dam to contain mining waste. It now expects to produce between 415,000 and 465,000 tonnes this year, instead of the 470,000 to 525,000 tonnes it previously expected. Anglo American defended its due diligence on Teck, saying that while it did not have advanced knowledge on the specifics of Wednesday’s announcement, the revision was “broadly” consistent with its understanding of the issues facing Teck’s Chilean mine, Quebrada Blanca. Still, Teck’s announcement sent copper prices to new highs amid concerns that there will be scant supply for the metal, which is crucial for construction, energy grids and electric vehicles. Shares in Anglo rose 3 per cent by mid-afternoon Wednesday.