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...Anglo American’s boss Duncan Wanblad has said the British mining group will not “shrink itself to greatness” in the face of growing pressure to take radical action in reshaping its misfiring portfolio and...
...group metals have been stung by low prices....
...Anglo American, one of the few miners to build a copper mine in recent years, offers growth in the red metal, buried amid its South African iron ore and platinum assets....
...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....
...As prices fall, the companies can only awkwardly point out that these metals now matter less and less to the group’s profits....
...The metal is heavily used in renewable energy projects and electric vehicles....
...Wanblad has said that “nothing is off the table” when it comes to asset sales or other options to restructure units, of which De Beers and the platinum group metals division are the most troubled....
...Anglo American, which owns 79.2 per cent of Amplats, has singled out platinum group metals (PGMs) as one of the two commodities in its portfolio, along with diamonds, that has been struggling, contributing...
...The metal was supposed to be a key growth engine — and predators took notice....
...BHP has proposed buying rival Anglo American in a £31bn deal that provoked a backlash from the South African government and leading shareholders....
...Anglo American has written down $2.4bn in its diamond and nickel businesses as the gemstone market takes longer to recover and the battery metal suffers from a glut of Indonesian supply....
...Anglo American, which owns 79.2 per cent of Amplats, has singled out platinum group metals as one of two struggling commodities in its portfolio, contributing to a sharp fall in its shares in the past year...
...BHP, the world’s biggest mining group with a market capitalisation of A$229bn (US$149bn), is seeking to use an all-stock takeover of Anglo American to expand its portfolio of copper mines, according to people...
...This group of investors generally views Robotaxi (i.e. fully autonomous vehicles running on the Tesla network) as a very long-dated opportunity....
...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....
...The group estimated the rule would cost airlines $33bn over 10 years....
...About two-thirds of American companies are incorporated in Delaware, attracted to the small, mid-Atlantic state by its sophisticated legal system....
...BHP, the world’s largest mining group, and Australian billionaire Andrew Forrest, who owns miner Wyloo Metals, have been pushing the LME to distinguish between so-called dirty nickel and cleaner supplies...
...A version of this article was first published by Nikkei Asia on April 19 2024. ©2024 Nikkei Inc. All rights reserved....
...Gains for energy and mining groups pushed European stock markets higher on Monday, as metals prices extended recent rallies....
...Over the past decade, Apple has been expanding its use of recycled materials in its devices to reduce its consumption of such metals and minerals....
...Robert Gordon’s The Rise and Fall of American Growth, which argued that the age of disruptive technology was over, came out around the same time....
...BHP’s largely interested in Anglo American’s prized copper mines....
...“For the American and European supply chains to be built, you need a surety built by the government,” said Matthew Ashley, senior cobalt trader at Traxys, a Luxembourg-based trading house....
...But the groups “would prefer to solve their own problems, as opposed to have politicians solve it”, he said....
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