Anglo Sets Scene for Long-Awaited Deal Frenzy With Move on Teck

Anglo American Plc’s swoop to buy Teck Resources Ltd. is intended to create a mining giant more than $50 billion in size. For dealmakers and executives, it may also have fired the starting gun on a round of major industry deals.

Teck and Anglo — both of whom survived hostile approaches from bigger rivals in the past two years — have long been on the radar for peers looking to grow in copper. Executives at companies such as BHP Group, Rio Tinto and Glencore Plc now risk seeing two coveted prizes escape.

The structure of the deal, pitched ...