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...Anglo American’s key South African shareholders are open to a takeover offer from BHP, despite government concerns that the miner’s £30bn-plus proposal is bad for Africa’s most industrialised economy....
...However, some analysts question the share price impact of thermal coal divestments of industry peers Anglo American and Rio Tinto, arguing that the moves have not lifted their shares....
...It spun out paper group Mondi in 2007, and its thermal coal business Thungela in 2021. Thungela’s shares are up 275 per cent, while coal prices have not changed much....
...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....
...The Swiss company has coal mines in South Africa and has long toyed with building an iron ore business. The company trades the metal but does not mine it....
...“What we saw is that it dumped coal and then created a small company called South32, which is now marginal,” he said, adding that the proposed deal was “a business issue” and the government was not involved...
...Latin American countries have not had new coal power plant construction starts since 2016 and for countries in the OECD, Europe, or the Middle East, no construction has started in the past five years....
...Some companies that make the list are expanding coal production or infrastructure....
...These include De Beers, its platinum division and its metallurgical coal mines....
...Scientific experts and climate change think-tanks endorsed the move away from coal but were critical of the timelines....
...The two companies could perhaps share infrastructure for their metallurgical coal mines in Queensland Australia. Both have iron pellet businesses in Brazil....
...A move away from coal would “help accelerate the shift of investment from coal to clean technology in particular in Japan and more broadly in the whole Asian coal economy, including China and India,” said...
...In addition to carbon standards, the EPA also announced rules for coal ash management and toxic metal and water pollution from coal plants....
...Besides diamonds, the London-based company managed to maintain its guidance across its other commodities such as copper, iron ore and steelmaking coal....
...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....
...BHP said that Anglo American’s other operations outside copper, iron ore and metallurgical coal — such as the De Beers business — would be “subject to a strategic review post-completion”....
...By most metrics, 2023 was a year to forget for the largest package delivery company in the US....
...Glencore has promised to spin off its coal business as a standalone company, subject to shareholder approval, within 24 months of closing a $6.9bn deal it made in November to buy the coal division of Canada...
...Levesque, a former officer on a nuclear submarine, said construction work near the site of a coal power plant, would begin in June regardless of whether the company received a permit from the Nuclear Regulatory...
...“What we remember is that it dumped coal and then created a small company called South32, which is now marginal,” Mantashe warned....
...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....
...“Anglo American? Was that a mining company?” asked 19-year-old Sinethemba Somana, turning to a friend in puzzlement....
...to turn ‘coal into gold’ On X, follow Oliver Roeder (@ollie) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more....
...Since most large American entities touch the Golden State, this will suck 8,000 companies into the net, according to Crunchbase estimates....
...The return of megadeals to the mining sector, with BHP’s £31bn all-stock approach to buy Anglo American, gives me serious flashbacks....
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