British-American Resources Group and Tech Resources have agreed to merge, in one of the largest mining deals in over a decade.

The Anglo American Resources Group has agreed to merge with Teck Resources of Canada in a zero premium deal, one of the largest mining transactions in over a decade. According to a statement released on Tuesday, shareholders of Anglo American Resources Group will hold 62.4% of the combined company, while Teck Resources shareholders will hold 37.6% of the shares. This confirms earlier reports from Bloomberg News about the impending deal. Anglo American Resources Group will also pay a special dividend of $4.5 billion to its investors prior to the transaction. This merger is one of the largest in the history of the mining industry, signaling the peak of merger activity for large mining companies in recent years. Subject to regulatory approval, the acquisition is expected to be completed within 12-18 months.