ADB Backs a $1 Billion Minerals Push, Anglo Teck Gets the Green Light, and Nickel Climbs to a Two-Year High

Today on The Mining Insider: The Asian Development Bank launched its Critical Minerals-to-Manufacturing Financing Partnership Facility at its 59th annual meeting in Samarkand on May 3. Korea Eximbank and the Korean Trade Insurance Corporation (K-SURE) each signed $500 million memoranda as founding partners, alongside $20 million from Japan and $1.6 million from the UK as seed grants. ADB President Masato Kanda said Asia and the Pacific should capture more than raw material exports. Separately, the proposed merger of Anglo American and Teck Resources to form Anglo Teck — a $53 billion all-share deal creating a top-five global copper producer — has cleared shareholder approval at both companies and received regulatory clearance from the Government of Canada under the Investment Canada Act, with final approvals in China and South Korea expected September 2026 to March 2027. And on the London Metal Exchange, nickel climbed to $19,155 per tonne — the highest level since June 2024 — as Indonesia's 2026 RKAB quota of 260-270 million tonnes creates a structural supply gap against smelter demand of 380-400 million tonnes, compounded by a sulfur shortage tied to the Middle East conflict. Stories Covered: - ADB Critical Minerals-to-Manufacturing Facility: Korea Eximbank and K-SURE each commit $500 million, Japan and UK add seed grants, launched Samarkand May 3 - Anglo Teck merger: $53 billion deal, shareholder and Canada ICA approval secured, China and South Korea approvals pending September 2026 to March 2027 - Nickel two-year high: LME $19,155 per tonne, Indonesia RKAB quota 260-270 million tonnes vs demand of 380-400 million tonnes, sulfur shortage from Middle East amplifying pressure Commodities: Nickel, copper, critical minerals Jurisdictions: Asia-Pacific, Indonesia, Canada, Chile, South Korea, Japan, United Kingdom, Uzbekistan