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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Anglo American and Finnish Minerals Group announced February 12 they have signed a memorandum of understanding (MOU) to work together to explore opportunities to further support Finland’s battery strategy. Finnish Minerals Group is a holding and development company that manages the Finnish Government’s mining industry shareholdings and supports the development of the Finnish battery value chain. “Finland is a highly…
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BHP, together with Anglo American, Antofagasta Minerals, Codelco and Collahuasi, have launched the Mining Security Corporation, to promote a culture of cybersecurity in mining operations. According to the group, cyberattacks will cost companies about US$10.5 billion by next year, and more than more than 4 billion cyberattacks took place in Chile during the first half of 2023, positioning it as…
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Anglo American, which has been on a journey to work with customers on sustainable value chains outside of its own portfolio, has collaborated with top China copper producer Jiangxi Copper Company to offer greater assurance on responsible copper from its mining and path to market. Full story.
Read MoreAnglo American has signed a memorandum of understanding with Swedish steel producer H2 Green Steel to work in tandem to advance low-carbon steelmaking processes. Under the terms of the deal, the two will study and trial iron ore from Anglo’s Kumba mines in South Africa and Minas-Rio mine in Brazil, which will serve as feedstock for H2 Green Steel’s direct…
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