Anglo American: Firm behind £7bn Woodsmith project in Yorkshire to delist from Swiss Exchange

Anglo American is the company behind the major £7bn Yorkshire Woodsmith mining project. Located in North Yorkshire, near Whitby, the Woodsmith project will see the creation of a 37km (23 mile) tunnel that will transport a naturally occurring mineral, polyhalite, to new processing and shipping facilities on Teesside.

The mineral is intended for use as a fertiliser which is said to be able to boost crop yields and aid more sustainable farming.

In an announcement to the London Stock Exchange, Anglo American confirmed that its application to delist from the SIX Swiss Exchange had been approved.

The firm said in a statement: “Anglo American has decided to seek the Swiss delisting as part of a review of its global share listings in connection with the proposed merger with Teck Resources Limited, and because of a prolonged period of low trading volumes of Shares on the SIX Swiss Exchange and the regulatory burden associated with multiple secondary listings.

“Following the Swiss Delisting it will no longer be possible to trade Shares on the SIX Swiss Exchange.”

Anglo said the last day for trading its shares was expected to be 25 June, with the Swiss delisting then expected to be effective as of 26 June.

On completion of the merger, Anglo plans to retain its primarily listing in the London Stock Exchange, as well as listings on the Johannesburg Stock Exchange, the Toronto Stock Exchange and the New York Stock Exchange.

The latest announcement comes after Anglo American’s Brazil CEO said last week that the company expects to receive ​final regulatory approval for the merger around the year-end.

Both Anglo and Teck are currently working to secure approvals in verious jurisdictions.

Anglo’s group CEO, ​Duncan Wanblad, said in February that he expected the merger to be approved by ⁠South ​Korea and China ​between September and March.

The merger was given the green light by the Canadian government in December of last year.

The move comes at a turbulent time for Anglo American.

February saw the firm write down the value of its troubled De Beers diamond business by another $2.3bn (£1.7bn) amid a slump in demand for the precious gems.

The FTSE 100 firm reported net losses of $3.7bn (£2.bn) in 2025, due largely to the massive impairment charge on De Beers, which marked its third such write down in three years.

Anglo has been trying to sell De Beers – in which it has an 85 per cent stake – due to a lengthy downturn in the diamond market and amid the rise in synthetic lab-grown diamonds.

It comes as Anglo American also continues in its bid to divest in a number of its divisions.

The firm has said that it plans to simplfy its portfolio to focus on its core copper, premium iron ore, and crop nutrients segments.

In September last year, the company announced that it had raised around £1.85bn from the sale of its stake in Valterra Platinum, its former platinum subsidiary.

Anglo’s bid to sell off some of its segments forms part of a radical restructuring effort which was launched in 2024 after the firm fended off a £39bn takeover bid from rival mining giant BHP.