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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Macmahon has executed an equipment sale agreement to sell a substantial portion of its remaining mobile equipment fleet at Anglo American’s Dawson South project in Queensland. The mobile equipment was sold at market rates, which Macmahon said were at or above book value, for cash consideration. The sale is expected to result in A$44 million of net cash inflows for…
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Kumba Iron Ore, an Anglo American subsidiary, said its Sishen and Kolomela iron ore mines in South Africa have been assessed against the Initiative for Responsible Mining Assurance’s (IRMA) comprehensive mining standard, achieving the IRMA 75 level of performance. The IRMA scoring system recognises four levels of performance: IRMA Transparency, in which a mine is third-party-assessed and publicly shares its…
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South32 withdrew its forecast for Australian manganese output after it was forced to temporarily suspend operations at its Groote Eylandt Mining Co (GEMCO) unit due to Tropical Cyclone Megan, reported Reuters. The diversified miner initially forecasted a production of 3.4 million wet metric tons (amt) of manganese in fiscal 2024, slightly lower than the 3.5 million amt output in fiscal…
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