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...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....
...a UN pact on coal was first signed....
...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....
...“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...
...These include De Beers, its platinum division and its metallurgical coal mines....
...The two companies could perhaps share infrastructure for their metallurgical coal mines in Queensland Australia. Both have iron pellet businesses in Brazil....
...Besides diamonds, the London-based company managed to maintain its guidance across its other commodities such as copper, iron ore and steelmaking coal....
...In addition to carbon standards, the EPA also announced rules for coal ash management and toxic metal and water pollution from coal plants....
...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....
...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”....
...“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....
...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...
...The Melbourne-based company proposed that Anglo American investors receive 0.7097 BHP shares for each share in the London-based company, valuing the company at £31.1bn....
...London-listed shares in Anglo American have been down by more than a third since the start of last year, putting its market capitalisation at £29bn, as the company’s De Beers diamond division and platinum...
...“The BHP proposal is opportunistic and fails to value Anglo American’s prospects,” said Stuart Chambers, chair of Anglo American....
...Since most large American entities touch the Golden State, this will suck 8,000 companies into the net, according to Crunchbase estimates....
...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....
...Japan in particular has pushed back against an ambitious shift away from coal....
...US activist hedge fund Elliott Management has built a $1bn stake in UK-listed mining group Anglo American amid a £31bn ($39bn) approach for the company by BHP....
...The $1.6tn fund’s chief executive told the FT it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in...
...Nicolai Tangen, chief executive of the $1.6tn fund, told the Financial Times it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast...
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