LONDON (AP) — Australian mining giant BHP Group on Wednesday pledged to invest in South Africa’s economy as it seeks support for a 38.6 billion pound ($49.3 billion) bid to acquire Anglo American, which was founded in the country more than a century ago and remains one of its biggest employers. London-based Anglo American last […]
MELBOURNE (Reuters) -BHP Group on Wednesday said it needed more time to engage with Anglo American, a week after the London-listed miner rejected BHP’s 38.6 billion pounds ($49.20 billion) offer ahead of a final bid deadline later in the day. In a statement to Australia’s securities exchange, BHP outlined commitments to reduce regulatory risk in […]
JOHANNESBURG/ LONDON (Reuters) – BHP Chief Executive Mike Henry said that Anglo American investors need to consider the merits of his company’s bid for its smaller London-listed rival, seeking to drum up support for a proposal that has been rejected twice. The CEO of the world’s biggest listed mining group told investors at a metals […]
(Bloomberg) — South Africa’s biggest labor union federation urged local shareholders, including the powerful Public Investment Corp., to oppose BHP Group Ltd.’s bid to buy Anglo American Plc. Most Read from Bloomberg The Congress of South African Trade Unions, which includes the National Union of Mineworkers among its members, said a deal wouldn’t be in […]
Brazil’s federal government and the state of Espirito Santo have reportedly turned down a $25.03bn settlement proposal from mining giants Vale and BHP for the 2015 Mariana tailings dam collapse. The offer, which included $9.2bn already disbursed, was deemed insufficient and laden with “inadmissible conditions” by the office of Brazil’s solicitor general, reported Reuters. The […]
By Felix Njini and Clara Denina JOHANNESBURG/LONDON (Reuters) – BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, concerned that they stand to lose heavily by holding shares in South African subsidiaries. The world’s No. 1 miner is weighing up its next move after its initial $39 […]
(Bloomberg) — Copper’s surge to $10,000 a ton just days after the bombshell news that BHP Group is trying to buy Anglo American Plc is highlighting a core disconnect at the heart of the industry: miners just aren’t building enough mines. Most Read from Bloomberg The biggest producers all want to increase copper output to […]
(Bloomberg) — The world’s largest mining company, BHP Group Ltd., has made a takeover approach for rival Anglo American Plc, a move that could spark the biggest shakeup in the industry in over a decade. Most Read from Bloomberg Anglo American, which has a market value of £27 billion ($34 billion), said late Wednesday that […]
MELBOURNE (Reuters) -BHP Group will record another $3.2 billion impairment in relation to its Brazilian Samarco dam failure, and a $2.5 billion non-cash impairment charge for its Western Australia Nickel business, the world’s biggest listed miner said on Thursday. Last month a federal judge in Brazil ruled that BHP and Vale and their joint venture, […]