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...It has easily been the poorest performing mining stock of the big groups, including BHP, Rio Tinto and Vale....
...BHP has turned its pickaxe to the equity markets to find the metal it desires: copper....
...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”....
...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...
...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....
...“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.”...
...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...
...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...
...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....
...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...
...BHP’s largely interested in Anglo American’s prized copper mines....
...The California-based company is valued at $1.15bn, and also counts BHP, the world’s largest mining group, and oil major Equinor, as investors....
...Jansen, which will be one of the world’s largest fertiliser mines, is set to enter into first production near the end of 2026, diversifying BHP beyond copper, iron ore, nickel and steelmaking coal....
...At iron ore and copper dependent BHP, the cash flow used to pay its 9 per cent dividend yield primarily comes from China. The country’s economic problems put this payout at risk....
...BHP is mostly interested in Anglo American’s copper mines, rather than its jewels. De Beers has been cutting its output due to sluggish demand for its traditional products....
...More likely was that emissions would over time be incorporated into individual producers’ prices....
...BHP’s proposal is intended to boost its position as the world’s biggest copper and steelmaking coal supplier that would lead to a break-up of UK-listed Anglo....
...One of its rationales for the proposed coal spin-off is to secure a higher valuation for its portfolio of copper, cobalt, nickel and zinc mines as the company has argued that their value is dragged down...
...The country consumed about four times the amount of copper than the EU and the UK combined in 2022, according to the International Wrought Copper Council. It is also the top user of nickel....
...In a case study, Unwritten analysed BHP, an Australian mining group with significant coal and copper holdings....
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