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Teck, Antofagasta Said to Explore Copper Mining Merger

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Teck Resources Ltd. and Antofagasta Plc have explored a merger that would create one of the world’s largest copper producers, people with knowledge of the matter said.

The companies have held early-stage talks, and any agreement hinges on the approval of the families that control both miners, the people said, asking not to be identified discussing private information. There’s no guarantee they will reach a deal, which would be primarily stock based, the people said.