BHP said that comments made by its chairman during its annual general meeting did not mean the company has ruled out a renewed offer for Anglo American, reported Reuters. Chairman Ken MacKenzie said that the company had “moved on” to focus on growth opportunities. However, company officials said that “these comments were not intended to be a statement to which…
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Anglo American has agreed to sell its 33.3% minority interest in Jellinbah Group, a joint venture that owns a 70% interest in the Jellinbah East and Lake Vermont steelmaking coal mines in Australia, to Zashvin A$1.6 billion (US$1.1 billion). Zashvin is an existing 33.3% shareholder in Jellinbah alongside Anglo American and Marubeni. “The cash proceeds of A$1.6 billion reflect the…
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Through a bottom-up approach, frontline workers have been empowered to shape a new Fatal Risk Management (FRM) program at Anglo American, one that is easy to use and doesn’t add another layer of red tape. Anglo American Australia CEO Dan van der Westhuizen said embedding frontline workers in the project team was crucial in designing the simplified and standardised tools…
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Anglo American has reportedly hired Goldman Sachs, Morgan Stanley and Centerview Partners – all previously brokers to the company – for the sale of its steelmaking coal assets, which analysts value at as much as $5 billion, reported Reuters. In May, the miner’s CEO Duncan Wanblad said that it would soon sell off its five operating coal mines, development projects…
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Anglo American has suspended production at its Grosvenor coal mine in Queensland, Australia, following an underground coal gas ignition incident on 29 June. The miner said all employees were safely evacuated without injury, but it is still working on safely extinguishing the fire. ABC News reported that authorities are racing to seal at least six of the mine shafts, along…
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Anglo American has rejected a third unsolicited takeover proposal from rival miner BHP but has agreed to extend the PUSU deadline to May 29. The latest bid included the same highly complex structure as the previously rejected proposals, which involved an all-share offer with a requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo…
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Anglo American has laid out plans to refocus on copper and iron ore while spinning out or selling its less profitable coal, nickel, diamond and platinum businesses, reported Reuters. The announcement comes after the miner rejected a second takeover bid from rival BHP.
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Anglo American has rejected a raised buyout proposal of £34 billion ($42.67 billion) from rival miner BHP as it “continues to significantly undervalue” the company, reported Reuters. This follows an initial rebuffed all-share bid of £31.1 billion ($39 billion). “The latest proposal from BHP again fails to recognise the value inherent in Anglo American,” said Stuart Chambers, Anglo American chairman.…
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The head of Toronto-based Hudbay Minerals said BHP’s recent bid for Anglo American has “increased the valuation of copper assets,” reported Reuters. Full story.
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Anglo American has rejected BHP’s £31.1 billion ($39 billion) takeover offer, reported Reuters, for significantly undervaluing its rival. The mining giant has until May 22 to make a binding bid. “The BHP proposal is opportunistic and fails to value Anglo American’s prospects,” Anglo Chairman Stuart Chambers said in a statement, adding that it diluted the value upside for Anglo’s shareholders…
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