Teck Resources and Anglo American late on Monday said it has received regulatory approval from the government of Canada under the Investment Canada Act for their merger of equals.

The deal is expected to establish a global critical minerals company headquartered in Canada.

The combined company, to be named Anglo Teck, has committed to spend at least C$4.5 billion in Canada within five years, including in connection with the Highland Valley Copper mine life extension, boosting critical minerals processing capacity at Trail, and advancing the development of the Galore Creek and Schaft Creek copper projects in British Columbia.

These projects will allow Anglo Teck to spend at least C$10 billion in total over 15 years.

The merger was approved by each company's shareholders at meetings held on Dec. 9. Deal completion is subject to customary conditions, including necessary regulatory approvals.

The merger has received competition approvals in Canada and Australia, with other reviews in progress.