Why did Tektronix Resources Co., Ltd.'s share price soar in pre-market trading?

TECK (NYSE: TECK) surged 17.35% to $41.20 in pre-market trading after Anglo-American Group agreed to merge with the Canadian copper producer to create a $50 billion mining giant. Anglo American will hold a 62.4% stake in the combined company, which aims to capitalize on the growth in copper demand driven by the green energy transition. The merger is expected to save $800 million in cost per year and integrate Chile's major copper assets.