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...BHP must decide by May 22 whether to make a formal offer for Anglo, which holds coveted copper mines in Peru and Chile....
...The wrangling comes as BHP is preparing a formal offer that could transform the producer of iron ore, coal and nickel into a mining supermajor, with Anglo’s coveted copper mines in Latin America as the main...
...BHP already controls Escondida, the world’s largest, very mature, copper mine....
...BHP has turned its pickaxe to the equity markets to find the metal it desires: copper....
...Copper is an effective conductor of electricity. The red metal has charged up the mining sector since BHP’s interest in buying Anglo American became public two weeks ago....
...Lex looked at the “build versus buy” copper maths that lies behind BHP’s proposal....
...Anglo American’s board has rejected BHP’s takeover offer, saying that the proposal “significantly undervalues” the copper, iron ore and platinum producer....
...BHP has proposed an all-share takeover of Anglo American in a deal that would reshape the mining industry and bolster the presence of the world’s largest mining company in copper, iron ore and fertilisers...
...BHP declined to comment. Bloomberg first reported news that BHP was considering a potential takeover of Anglo American....
...BHP was seeking to get ahead of that price boom. It said that the deal would boost its exposure to Anglo’s copper assets, which are located in Chile and Peru....
...BHP said it would increase its “exposure to future facing commodities through Anglo American’s world class copper assets”....
...A successful takeover would build on the acquisition of Oz Minerals, boosting BHP’s access to copper via Anglo’s prized projects in Peru and Chile....
...If that happens, Anglo would be recentred around Chilean and Peruvian copper with output of about 760,000 tonnes a year. Buying that would improve BHP’s copper exposure by about 40 per cent....
...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...
...Barrick Gold: copper in sight Canadian-listed Barrick Gold may also be interested....
...BHP proposed an all-stock bid for London-listed Anglo to get access to a portfolio that includes copper mines in Chile and Peru....
...“The copper is the real thing here — the copper is first-class,” said Frost at Artemis. “If you believe in the structural growth of copper, the offer price is too low.”...
...BHP’s deal looks overly complicated and politically fraught. But the copper maths suggests it can and will bump its offer. Read more here....
...the local mining communities which may be affected by many operational mines in naturally remote and rural areas (“The ‘build or buy’ copper maths that could guide BHP’s bid for Anglo”, Lex, April 30)....
...Under Mike Henry, the company veteran who was appointed chief executive four years ago, BHP has refocused its business on what it calls “future-facing” minerals, including copper and potash, while disposing...
...After its £31bn bid for Anglo American was rebuffed last week, BHP — the world’s largest mining group — is mulling an improved offer. Other suitors may emerge too....
...BHP’s proposed £31bn takeover of Anglo American would make it the world’s biggest producer of copper, a barometer of global economic health, given its use in everything from electric batteries to power lines...
...BHP said it would pay an interim dividend of 72 cents a share, better than analysts had expected, reflecting a strong performance in its copper and iron ore operations....
...Australia’s largest company also cut production guidance for its Queensland coal operations, which it owns with Mitsubishi, but production of copper and iron ore, important commodities for the company, improved...
...Sonja HutsonSo walk me through this announcement yesterday from BHP. What’s it looking for with Anglo American? Harry DempseySo the key thing that BHP wants is copper....
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