BHP Group is actively pursuing a takeover of Anglo American, focusing on the latter's valuable copper mines, which are crucial for the burgeoning demand in electric vehicles, wind turbines, and power networks. The bid, valued at approximately R740bn, has been in the works for years and is seen as a strategic move to create the world's largest copper producer. However, the proposal faces significant hurdles, including the need for approval from South African regulators and concerns from Anglo investors about asset cherry-picking. Additionally, BHP is considering an improved bid amidst pressure from Elliott Management, which has increased its stake in Anglo. The copper industry is under pressure due to a lack of investment in new mines, with more than $150 billion needed to address the supply gap. This scenario is compounded by environmental challenges, as more than half of the world's copper mines are located in areas at significant risk of drought, further straining future supplies.
⚠️ AS BHP WEIGHS FIRM BID FOR ANGLO, INVESTORS FRET OVER CHERRY-PICKING ASSETS Full Story → https://t.co/36zipAlWxK 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… https://t.co/8nEdVdDdla
News24 | Anglo under pressure to reveal plans to fend off BHP as Elliott hikes stake https://t.co/kDbAGDrXKd
Is copper the new oil? 👀 📈 Copper has rallied in recent months, fueled by bets on looming shortages as mines struggle to meet rising demand from EVs, grids & data centers ⛏️ There isn't enough new investments in mines, which take years/decades to build https://t.co/VogIeJyJnt https://t.co/SPEdYO266m
The ‘build or buy’ copper maths that could guide BHP’s bid for Anglo https://t.co/FoyswT9KjQ | opinion
Half of All Copper Mining Is at Drought Risk With Climate Change https://t.co/haNARSovjk
Half Of All Copper Mining Is At Drought Risk With Climate Change - BBG https://t.co/igovskvwUu
More than half the world’s copper mines will be in areas exposed to drought risk that’s deemed significant, high or extreme, according to a report https://t.co/w7QKzaBSgN
ANALYSIS: BHP is betting big on a renewable energy future, and it has Anglo American's copper mines in its sights.https://t.co/vjaDOH0Hce
BHP's proposal for Anglo American to spin off platinum and iron ore subsidiaries ahead of a takeover would require approval from South African regulators https://t.co/fwI7F6qGtw
Anglo under pressure to reveal plans to fend off BHP as Elliott hikes stake https://t.co/tcJRF1R16K
Who are Anglo American’s possible suitors? https://t.co/m5Zi2IC41P
Rising copper prices and increasing demand may present significant opportunities for miners. Explore the Global X Copper Miners ETF $COPX for access to companies involved in the mining of copper.
Takeover rules to prevent Anglo from saying much on BHP bid at AGM https://t.co/Vnpgbey13o https://t.co/yDd4L5zbVh
Copper soaring 💪
South Africa views BHP bid for Anglo as 'normal market activity' https://t.co/p8byDUrpB8
Look at Copper in Yen terms hitting new all-time highs https://t.co/4LdUJnagKi https://t.co/4x8OFlhjb0
The chair of BHP made a phone call to his counterpart at Anglo American & set in motion a flurry of activity designed to create the world's largest copper producer. Except that, based on valuation & structure, the current proposal is never going to fly 👇https://t.co/RwMBRHKViM
$BHP (-0.9% pre) BHP tells investors Anglo bid is 'on strategy', stresses discipline - Reuters https://t.co/C2liUXPRVS
BHP tells investors that Anglo American bid is in line with strategy, stresses discipline https://t.co/cTW8VulQeD
BHP tells investors Anglo bid is 'on strategy', stresses discipline https://t.co/iQ6FESPG1z https://t.co/tIg5SFCnQv
BHP's Anglo buyout makes business sense if the price is right: Russell https://t.co/Qrnd0S54cm https://t.co/BSrQ2uVxwf
BHP is mulling an improved bid for Anglo. Read today's Australia Briefing, by @ainsley_thomson, for your daily dose of the best of Bloomberg from Down Under and around the world. https://t.co/57bgDdaiYJ
News24 | BHP’s R740bn Anglo copper play was years in the making https://t.co/b9GfkwgQMa
Copper supply at risk given lack of new mines coming online $FQVLF $SCCO $FCX $NGLOY "Production from existing mines is set to fall sharply in the coming years, and miners would need to spend more than $150 billion between 2025 and 2032 in order to fulfill the industry’s supply… https://t.co/8G0zCqGtvs
Copper supply at risk given lack of new mines coming online $FQVLF $SCCO $FCX $NGLOY https://t.co/sh3vr12a81
BHP Mega Bid and $10,000 Copper Expose Mining’s Biggest Problem Spending on new copper mines has declined in recent years CRU says more than $150 billion is needed to plug supply gap https://t.co/Nln0eUKS2G
The Australian miner wants its rival’s copper mines at a time when the red metal is in demand for electric cars, wind turbines and power networks ⬇️ https://t.co/nNHwE3NqjX
BHP’s pursuit of Anglo American has a major obstacle: South Africa https://t.co/1DTptoMXh4