Glencore understood to be considering takeover offer while BHP could move again after initial rejection
The global mining industry is braced for a multi-billion pound bidding war for Anglo American amid growing speculation that mining companies are preparing rival bids.
The Australian miner BHP is understood to have sent senior executives to Anglo’s base in South Africa to meet key company stakeholders after an initial offer of £31bn was rebuffed by Anglo’s board last week.
Continue reading...The De Beers owner is a longstanding jewel in the African' state’s economic crown – it would be a ‘big blow’ to see it sold off
The world’s largest mining company has a problem. Australia’s BHP has set out its intention to snap up the rival miner Anglo American in a multibillion-pound deal that would reshape the global industry. Its proposed £31bn takeover plan has already been rebuffed as a lowball offer that undervalues the company. But Anglo’s deep roots in South Africa could be a far more sensitive issue to address.
Africa’s most advanced economy was built on mining. For more than 150 years since the first discovery of diamonds, gold and coal, the industry has remained South Africa’s economic lifeblood. Today it is the world’s fifth largest producer of coal and diamonds and the 10th largest producer of gold.
Continue reading...All-share proposal had potential to be one of biggest deals in sector for decade but deemed ‘opportunistic’
The board of Anglo American, the London-listed mining company, has rejected a “highly unattractive” £31bn takeover approach from its Australian rival BHP.
BHP’s all-share proposed offer for Anglo American had the potential to be one of the biggest deals in the global mining sector for a decade but has attracted criticism from Anglo’s shareholders as being too low and “highly opportunistic”.
Continue reading...Johannesburg-based Amplats says one in five jobs will be lost in South Africa amid plunge in profits
The platinum arm of Anglo American is to cut 3,700 jobs in South Africa as the British mining company attempts to improve performance in the troubled division.
Anglo American Platinum (Amplats) said on Monday it aimed to cut jobs after a sharp drop in platinum metal prices, which had led to a collapse in profits last year.
Continue reading...South African court dismisses huge class-action lawsuit over toxic legacy of mining at Broken Hill in Zambia between 1925 and 1974
A South African court has thrown out a case brought against the multinational mining company Anglo American on behalf of 140,000 Zambian women and children, who allege they have suffered lead poisoning from one of its mines.
The lawsuit, one of Africa’s largest class-action cases, was filed in October 2020, accused Anglo American of negligence over its alleged failure to prevent widespread lead poisoning in the Zambian town of Kabwe, where its South African subsidiary is alleged to have played a key role in running a large mine from 1925 until 1974.
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