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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....
...North American rivals such as Mark Bristow’s Barrick Gold are also likely to be weighing their options, while a bid for all or part of Anglo American from Brazil’s Vale, India’s Vedanta Resources or a Chinese...
...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....
...“Less oil and natural gas from federal lands means fewer jobs for Americans and, almost certainly, more money to the Middle East, Venezuela, Russia and Iran,” said Barrasso....
...These include De Beers, its platinum division and its metallurgical coal mines....
...“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....
...There’s also Australian coking coal and Brazilian iron ore, plus a not-too-significant diamonds subsidiary and a long-dated polyhalite project in the North York Moors National Park that defies rational explanation...
...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....
...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....
...“Anglo American? Was that a mining company?” asked 19-year-old Sinethemba Somana, turning to a friend in puzzlement....
...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”....
...Not only will generative AI sharpen the competitiveness of US companies, it will boost the overall economy, too....
...By most metrics, 2023 was a year to forget for the largest package delivery company in the US....
...As an American firm, Jane Street has a natural advantage over European players like Flow Traders and Optiver....
...“What we remember is that it dumped coal and then created a small company called South32, which is now marginal,” Mantashe warned....
...For one thing, management seems to have traded English understatement for American optimism....
...The pharmacy school at the University of North Carolina, his home state, is named after him. He now runs Eshelman Ventures, “an investment company primarily interested in healthcare companies”....
...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 fund divested from 22 thermal coal companies that it decided “were not prepared to thrive” in a low-carbon economy....
...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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