Anglo American said its board is reviewing BHP’s “unsolicited, non-binding and highly conditional” all-share offer, although a Reuters report said the US$38.8-billion offer has not been popular within Anglo American. (The Logic, Reuters)
Talking point: The deal, if it proceeds, would combine two of the world’s top-10 copper mining firms. BHP has focused on growing its nickel and copper pipeline as demand swells for critical minerals for clean technologies. The Australian company, led by Canadian CEO Mike Henry, moved its exploration-team headquarters to Toronto in 2021 to search for “green metals” like nickel and runs an accelerator program for mining startups there. U.K.-based Anglo American, meanwhile, took a stake in Canada Nickel last year. Anglo American’s stock was up over 18 per cent Thursday afternoon.
