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...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...Given that Anglo American at its heart is a South African mining house, [this] is quite offensive,” he said....
...But the companies are key. Miners need to augment their extraction processes and vetting. Too many projects have suffered from safety failures, environmental damage, and exploitation....
...He’s made a shit ton of money for the company.” Buffett’s fascination with the insurance industry dates back more than 70 years....
...North American rivals such as Mark Bristow’s Barrick Gold are also likely to be weighing their options, while a bid for all or part of Anglo American from Brazil’s Vale, India’s Vedanta Resources or a Chinese...
...But it did ensnare mining companies in the endless red tape of licence applications....
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...BHP has proposed a £31bn deal to buy Anglo American, one of its largest rivals, in a deal that would mark the mining sector’s biggest on record....
...Why does BHP want to own Anglo American? It doesn’t, it wants to own some of Anglo American, specifically the bits that don’t need fixing....
...Read up on those transactions in the piece, as well as one relatively opaque deal that hasn’t gotten any media attention at all: an $82bn dividend Berkshire’s biggest insurance unit paid the parent company...
...The two companies could perhaps share infrastructure for their metallurgical coal mines in Queensland Australia. Both have iron pellet businesses in Brazil....
...Duncan Wanblad took the helm of Anglo American in mid-2022 just as the South African miner reached a record market capitalisation of more than £50bn....
...For years, the market built its reputation as the home of an array of global natural resources companies....
...Indeed, dearer car insurance now is a product of past cost pressures in vehicles....
...The battle for natural resources crucial to the green energy transition is in the spotlight again with the biggest offer for a mining company in years and a new warning over China’s dominance of a critical...
...It’s a hope that the American public land is still the American public land and it can’t be controlled.” And Cape, of all things, builds fences for a living....
...This ambition culminated when BHP chair Ken MacKenzie called his counterpart at Anglo American on April 16 to deliver a $31bn preliminary offer for the London-listed miner....
...Investors believe mining company Anglo American is set to be bought or broken up even after the 107-year-old London-listed group rejected a £31bn hostile takeover approach from Australian rival BHP....
...South Africa’s minerals resources minister said he was not in favour of a deal between BHP and Anglo American because the country’s previous experience with the Australian miner was “not positive”....
...His visit comes days after the country’s mineral resources and energy minister Gwede Mantashe told the Financial Times that he did not support BHP’s bid, and later said that if companies did not want South...
...Chesapeake declined to comment, while the other companies did not respond to requests for comment....
...The US Federal Trade Commission made the allegations against Scott Sheffield, a towering figure in the US shale industry who until December served as chief executive of Pioneer Natural Resources....
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...BHP has proposed a £31bn takeover of Anglo American that would bring together two global mining companies and rank as one of the industry’s largest transactions in years....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
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