Mining giant BHP has made an offer for fellow mining major Anglo American, a deal that would be the biggest in the mining industry for years if completed.
Mining giant BHP has made an all-share offer for fellow major Anglo American . If completed, the deal would be the biggest one in the mining world in years. Anglo American described the offer as “unsolicited, non-binding and highly conditional,” according to the Financial Times, and added that there was “no certainty that any offer will be made nor as to the terms on which any such offer might be made”.
The Australian Financial Review recalled that BHP’s chief executive Mike Henry had been public about the company’s expansion plans in copper, warning last year investments in new supply were $195 billion short of what they needed to be to avoid a deficit. Since the start of the year copper prices have gained about 15%, the Wall Street Journal notes, but they are still palpably below the records they hit in 2022 in the months after Russian troops entered the Ukraine in February.
Anglo American Mining Takeover Offer Shares Copper Iron Ore Metals
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