Aankondiging • 10h
Anglo American plc Reaffirms Production Guidance for the Year 2026 Anglo American plc reaffirmed production guidance for the year 2026. For the year, the company expects Copper production of 700 kt to 760 kt, Premium Iron Ore of 55 Mt to 59 Mt and Diamonds of 21 Mct to 26 Mct. Live-nieuws • Jul 01
Teck and Anglo American Move Forward With Share Exchange in Court-Approved Merger Teck Resources has mailed a Letter of Transmittal to its shareholders to begin the share exchange process for the court-approved merger of equals with Anglo American, allowing each Teck share to be exchanged for 1.3301 Anglo American ordinary shares or, for eligible Canadian holders, exchangeable shares.
The share exchange step is a key procedural milestone in completing the merger, because it sets out the mechanics, documentation and deadlines Teck shareholders must follow to receive Anglo American or exchangeable shares.
Anglo American’s share price is around £36.97, with the stock up about 21.6% year to date.
This phase of the Teck and Anglo American merger turns the high-level deal into specific ownership terms, so the exchange ratio and timelines now become central for anyone assessing how their Teck exposure will translate into Anglo American equity once the transaction closes. Aankondiging • May 20
Anglo American plc Updates on Collahuasi Environmental Permit in Chile Anglo American PLC noted the 15 May 2026 ruling in Chile by the Second Environmental Tribunal which purports to set aside the Environmental Authorization issued by the Environmental Assessment Service to the independently managed Collahuasi copper mine in 2021 for the Infrastructure Development and Production Capacity Improvement project that includes the development of a water desalination plant for Collahuasi, which is now almost complete. Anglo American understands from the Tribunal´s own press release that its ruling is limited to two specific aspects relating to analysis on the effects on a local community and on the marine environment. Collahuasi is currently in the process of seeking full clarification from the Tribunal in order to determine the specific effects of its ruling, the matters that it requires Environmental Assessment Service to re-examine, and any impact on Collahuasi's operations. Based on the information currently available and subject to the existing alternative water sources for Collahuasi, Anglo American does not currently expect any immediate impact on production. Collahuasi is seeking clarity on the ruling from both the Tribunal and the Environmental Assessment Service, and Anglo American will provide further updates as appropriate. Collahuasi has confirmed that the environmental permitting process for the project was carried out in accordance with local regulations and under the relevant environmental framework. The Environmental Authorization was obtained in December 2021, following a rigorous assessment process led by the Environmental Assessment Service, including the indigenous consultation defined by the competent authority. This was subsequently confirmed by the Ministers Committee in August 2023. Collahuasi has stated that it will continue to work in coordination with the relevant authorities and stakeholders, acting responsibly and in accordance with the legal framework, in order to determine the appropriate next steps. Aankondiging • Mar 23
Anglo American PLC Announces Delisting Of Ordinary Shares From SIX Swiss Exchange Anglo American PLC confirms that SIX Swiss Exchange Regulation has approved an application for the delisting of the Company's 1,178,050,272 ordinary shares of USD 0.6239 each from the SIX Swiss Exchange. Anglo American PLC has decided to seek the Swiss Delisting as part of a review of its global share listings in connection with the proposed merger with Teck Resources Limited, and because of a prolonged period of low trading volumes of shares on the SIX Swiss Exchange and the regulatory burden associated with multiple secondary listings. Following the Swiss Delisting it will no longer be possible to trade shares on the SIX Swiss Exchange. The last day of trading for shares on the SIX Swiss Exchange is expected to be June 25, 2026. The Swiss Delisting is expected to be effective as of June 26, 2026. It is recommended that shareholders who trade shares on the SIX Swiss Exchange consult with their investment advisors, brokers or other applicable professional advisors on the actions that should be taken as a result of the Swiss Delisting. As previously announced on September 9, 2025, on completion of the merger, the company expects to retain its primary listing on the London Stock Exchange as well as listings on the Johannesburg Stock Exchange, the Toronto Stock Exchange and the New York Stock Exchange (to be implemented as a listing of American Depositary Receipts), subject to the approval or acceptance of the applicable exchanges in the case of the Toronto Stock Exchange and the New York Stock Exchange. Reported Earnings • Feb 23
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: US$1.13 loss per share (improved from US$2.87 loss in FY 2024). Revenue: US$18.5b (down 32% from FY 2024). Net loss: US$1.28b (loss narrowed 58% from FY 2024). Production and reserves: Diamond Production: 4.331 t (4.272 t in FY 2024) Copper Production: 0.369 Mt (0.735 Mt in FY 2024) Proved and probable reserves (ore): 2,600 Mt (7,500 Mt in FY 2024) Number of mines: 4 (3 in FY 2024) Manganese Production: 3 Mt (2.288 Mt in FY 2024) Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Feb 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 34% to UK£36.61. The fair value is estimated to be UK£29.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Feb 07
Anglo American plc Revises Production Guidance for the Year 2026 and 2027 and Provides Production Guidance for the Year 2028 Anglo American plc revised production guidance for the year 2026 and 2027 and provided production guidance for the year 2028. For the year 2026, the company now expects Copper production of 700 kt to760 kt compared to previous guidance of 760kt to 820 kt, Premium Iron Ore of 55 Mt to 59 Mt compared to previous guidance of 54 Mt to 58 Mt and Diamonds of 21 Mct to 26 Mct compared to previous guidance of 26 Mct to 29 Mct.
For the year 2027, the company now expects Copper production of 750 kt to 810 kt compared to previous guidance of 760 kt to 820 kt and Premium Iron Ore of 59 Mt to 63 Mt.
For the year 2028, the company now expects Copper production of 790 kt to 850 kt and Premium Iron Ore of 58 Mt to 62 Mt. Aankondiging • Jan 19
Anglo American plc to Report First Half, 2026 Results on Jul 30, 2026 Anglo American plc announced that they will report first half, 2026 results on Jul 30, 2026 Aankondiging • Dec 24
Anglo American plc, Annual General Meeting, Apr 29, 2026 Anglo American plc, Annual General Meeting, Apr 29, 2026. Aankondiging • Dec 16
Anglo American and Teck Resources Receives Government of Canada Approval for Merger of Equals Under Investment Canada Act Anglo American plc and Teck Resources Limited have received regulatory approval from the Government of Canada under the Investment Canada Act ("ICA") for the merger of equals between Anglo American and Teck which was announced on 9 September 2025. Anglo American and Teck believe that the formation of Anglo Teck in a merger of equals will provide exceptional and enduring benefits for Canada, founded upon establishing a global critical minerals champion headquartered in Canada. Aankondiging • Nov 24
BHP Group Reportedly Made Renewed Bid Approach to Anglo American Mining company BHP Group Limited (ASX:BHP) has made a renewed takeover approach to rival Anglo American plc (LSE:AAL), a source familiar with the matter told Reuters on November 23, 2025, just months after the London-listed miner agreed merger plans with Canada's Teck Resources to create a global copper-focused heavyweight. Anglo American declined to comment. BHP did not immediately respond to a request for comment outside regular business hours. BHP has made overtures to Anglo American in recent days, Bloomberg News reported earlier, citing people familiar with the matter, adding that deliberations are ongoing and there is no certainty of a deal. Anglo American's market capitalisation is about $41.80 billion, while BHP's is around $132.18 billion, based on LSEG data. In September, Anglo American agreed plans to merge with Teck in an all-share deal, marking the sector's second-biggest M&A deal ever. The deal came just over a year after BHP scrapped a $49 billion bid for Anglo, a deal that would have boosted the Australian miner's holdings of copper, the metal seen as essential for the transition to greener energy. If the BHP/Anglo deal had gone ahead, the combined entity would have been the world's largest copper producer, with a total annual production of around 1.9 million metric tons. The new Anglo Teck group is expected to have a combined annual copper production capacity of approximately 1.2 million tons, still second to BHP. Aankondiging • Oct 31
Anglo American plc to Report Fiscal Year 2025 Results on Feb 20, 2026 Anglo American plc announced that they will report fiscal year 2025 results on Feb 20, 2026 Aankondiging • Oct 30
Anglo American Reportedly Hunts for Potential Buyers for Its Steel Making Coal Assets Anglo American plc (LSE:AAL) has told investors that it is back on the hunt for potential buyers for its steel making coal assets after initiating the arbitration process against former suitor Peabody Energy. The group hopes to receive compensation from Peabody after it pulled out of its $3.8 billion offer to buy Anglo's Australian coal portfolio. "At Moranbah North, we continue to make progress towards a safe and structured remote restart and ramp up this year, ahead of transitioning to normal longwall operations," the company said. It added that preparations were under way to restart the formal sale process in the coming months. Anglo CEO Duncan Wanblad proposed the portfolio transformation plan last year in an effort to keep shareholders on his side, after the group rebuffed a R700bn-plus buyout offer from mining behemoth BHP as unattractive and convoluted. This year Anglo has sold its minority interest in coal producer Jellinbah Group for AUD 1.6 billion, disposed of its nickel business for $500 million and divested platinum group metals unit Valterra Platinum. However, it is yet to find a suitable buyer for diamond business De Beers, with the rapid market growth of lab-grown diamonds putting downward pressure on the demand for natural diamonds in recent years. We continue to work through the regulatory approvals for the Nickel transaction and, for De Beers, we are making good progress with the dual track separation and a structured sale process is currently under way," Wanblad said. Aankondiging • Oct 29
Anglo American plc Provides Production Guidance for Year 2025 Anglo American plc provided production guidance for year 2025. For the year, the company's Copper production is expected to 690 kt-750 kt, diamonds production is expected to 20 Mct - 23 Mct, Iron Ore production is expected to 58 Mt - 62 Mt. Aankondiging • Oct 24
Anglo American plc Announces Hixonia Nyasulu Step Down as A Non-Executive Director of the Board, Effect from 31 December 2025 Anglo American plc announced that Hixonia Nyasulu has decided to step down as a non-executive director of the Board of Anglo American with effect from 31 December 2025, after six years of service to focus on her wider board portfolio. Hixonia Nyasulu has served as an independent non-executive director since November 2019, also serving on the Board's Nomination and Remuneration committees. Hixonia also serves as senior independent director of SSE plc, as a non-executive director, vice chair and chair of the sustainability committee of Olam Agri Holdings, and as a member of the Council on Sustainability Transformation. The Anglo American plc Board of Directors will comprise, from 1 January 2026: Chair: Stuart Chambers. Executive directors: Duncan Wanblad- chief executive officer. John Heasley- chief financial officer. Non-executive directors: Magali Anderson, Ian Ashby, Marcelo Bastos,Hilary Maxson, Nonkululeko Nyembezi, Ian Tyler and Anne Wade. Buy Or Sell Opportunity • Oct 10
Now 22% undervalued Over the last 90 days, the stock has risen 28% to UK£28.80. The fair value is estimated to be UK£36.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Sep 11
Yancoal Reportedly Digging for Anglo Mines Yancoal Australia Ltd. (ASX:YAL) is believed to have moved its acquisition aspirations to Anglo American plc (LSE:AAL)'s Queensland coal assets that had been slated for a sale to Peabody Energy. This while also negotiating to buy the Kestrel coal mine in Queensland, estimated to be worth about USD 3 billion ($4.62 billion). The $7 billion Yancoal has been a bridesmaid at almost every major Australian coal mine auction in recent years. Vendors have been spooked over a sale to the Australian-listed but China-backed coal group due to concerns that a deal may be weighed down with regulatory risks. But now it appears to be potentially in the driver's seat after the coal price has come off the boil and other prospective buyers of assets are concerned about embarking on large acquisitions in such an uncertain environment. Anglo last month told the market its $5.8 billion sale of Queensland coal mines to Peabody Energy had not been finalised, as the US-based Peabody argues a fire at one of its major mines, Moranbah North, amounts to a material adverse change in conditions that enables the group to walk away from the contract. The two are seeking to settle the matter through legal arbitration. Anglo indicated that it may sell the assets to another party and take legal action against Peabody to recover the difference, which is where Yancoal comes in. DataRoom earlier reported that underbidders in the initial auction last year, won by Peabody, had made approaches to the parties to see if they would be prepared to reach an alternative deal. Yancoal had been also been in serious talks over a deal to buy the EMR Capital-controlled Kestrel coal mine in Queensland. While International Resources Holding from Abu Dhabi, which operates in mining through Africa, had been in talks, Yancoal had been angling for bilateral discussions to buy the asset after an initial sale process plan was shelved amid the weaker coal price environment. EMR Capital owns 52% and is a seller, while Adaro Energy owns the remainder and has pre-emptive rights to buy out the asset. But it is understood Adaro would sell at the right price. Reported Earnings • Aug 03
First half 2025 earnings released: EPS: US$0.33 (vs US$1.08 loss in 1H 2024) First half 2025 results: EPS: US$0.33 (up from US$1.08 loss in 1H 2024). Revenue: US$8.95b (down 6.6% from 1H 2024). Net income: US$395.0m (up US$1.55b from 1H 2024). Profit margin: 4.4% (up from net loss in 1H 2024). Revenue is expected to decline by 5.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the United Kingdom are expected to grow by 1.7%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Declared Dividend • Aug 03
Dividend of US$0.07 announced Shareholders will receive a dividend of US$0.07. Ex-date: 21st August 2025 Payment date: 30th September 2025 Dividend yield will be 15%, which is higher than the industry average of 7.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (59% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Aankondiging • Jul 31
Anglo American plc Proposes Interim Dividend for the Six Months Ended 30 June 2025, Payable on 30 September 2025 Anglo American plc proposed interim dividend for the six months ended 30 June 2025 of 40% of first half total underlying earnings, equal to $0.07 per share (30 June 2024: $0.42 per share), equivalent to $0.1 billion (30 June 2024: $0.5 billion). Ex-dividend on the London Stock Exchange from the commencement of trading is 21 August 2025; Record date (applicable to both the principal register and branch registers) is 22 August 2025; Payment date of dividend is 30 September 2025. Aankondiging • Jun 19
Anglo American plc Announces Executive Appointments, Effective July 1, 2025 Anglo American plc has streamlined its executive leadership team to reflect substantial progress with the simplification of its portfolio, with the demerger of Valterra Platinum completed and the sales agreed for the steelmaking coal and nickel businesses. In addition to the two executive directors Duncan Wanblad (Chief Executive Officer) and John Heasley (Chief Financial Officer), Anglo American's executive leadership team will comprise, from 1 July 2025: Chief Operating Officer is Ruben Fernandes; Chief Legal & Corporate Affairs Officer is Richard Price; Chief People & Organisation Officer is Monique Carter; Chief Projects & Development Officer is Alison Atkinson; Chief Strategy & Sustainability Officer is Helena Nonka; Chief Technical Officer is Tom McCulley. Themba Mkhwanazi, currently Regional Director Africa and Australia, will step down at the end of June having overseen the successful demerger of Valterra Platinum. Aankondiging • Apr 30
De Beers-Investor Botswana Says Serious Buyers Showing Interest Botswana’s government (Botswana) said it’s optimistic that Anglo American plc (LSE:AAL) will find a buyer for its diamond unit De Beers (De Beers SA) this year. “We are very confident that partners are coming forward,” Botswana Vice President Ndaba Gaolathe said in an interview in Washington, without identifying prospective investors. “Some are countries, some are funds, some are companies that have a deep interest. I’m comfortable, I’m confident that we are on the right track.” Botswana owns 15% of De Beers, which sources the bulk of its diamonds from the southern African nation. Anglo owns the rest and is looking to offload the stake following a slump in prices for natural diamonds, partly a result of the rising popularity of lab-grown stones. Anglo wrote down the value of De Beers for a second time in February, to about $4.1 billion. The London-listed company said it aims to exit De Beers — either via a trade sale or a listing — in the second half of 2025. Botswana, which depends on diamonds for the majority of its exports and about one-third of government revenue, has a decades-long partnership with De Beers. They signed a 10-year deal in February to fund a marketing campaign to resuscitate demand for natural diamonds. Gaolathe, who also serves as Botswana’s finance minister, said the country should have a say over whoever takes on Anglo’s 85% stake. The country, he said, wanted them to have “deep pockets” and be in the diamond industry for the long haul. “We are looking for partners that are not coming into it for the quick buck,” he said. “Whoever wants to take over the Anglo shares, it’s not just the takeover of shares. It’s actually the consummation of a relationship with the government of Botswana. And I want to impress upon you, we take relationships very seriously.” It’s possible, he said, that Botswana looks to increase its De Beers stake to as much as 50%. “We’re definitely not going lower than 15%,” he said. The vice president, who was in the US attending the International Monetary Fund-World Bank Spring Meetings, also said higher American tariffs on diamond imports would backfire. “The US does not have diamonds,” he said. “But the US has been able to create an entire diamond sector, a jewelry sector. It’s large, it creates jobs for Americans. So the US has benefited from Botswana diamonds and a sudden pushback on Botswana diamonds will and can hurt the US more than it imagines”. Upcoming Dividend • Mar 09
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 13 March 2025. Payment date: 07 May 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (5.9%). Lower than average of industry peers (4.2%). Recent Insider Transactions Derivative • Mar 05
CEO & Executive Director exercised options and sold UK£542k worth of stock On the 24th of February, Duncan Wanblad exercised options to acquire 23k shares at no cost and sold these for an average price of UK£23.88 per share. This trade did not impact their existing holding. For the year to December 2022, Duncan's total compensation was 31% salary and 69% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2024, Duncan's direct individual holding has increased from 557.46k shares to 583.05k. Company insiders have collectively bought UK£428k more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Feb 23
Final dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 13th March 2025 Payment date: 7th May 2025 Dividend yield will be 2.2%, which is lower than the industry average of 7.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (31% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • Feb 21
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: US$2.53 loss per share (down from US$0.23 profit in FY 2023). Revenue: US$27.3b (down 11% from FY 2023). Net loss: US$3.07b (down US$3.35b from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Metals and Mining industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 20
Anglo American plc Proposes Final Dividend for the Year to 31 December 2024, Payable on 07 May 2025 The Board of Anglo American plc has proposed a final dividend of 40% of second half underlying earnings, equal to $0.22 per share for the year to 31 December 2024 (2023: $0.41 per share), equivalent to $0.3 billion (2023: $0.5 billion). Ex-dividend on the JSE from the commencement of trading is 12 March 2025. Record date (applicable to both the principal register and branch registers) is 14 March 2025. Payment date of dividend is 07 May 2025. Ex-dividend on the Botswana Stock Exchange (BSE) from the commencement of trading is 12 March 2025 and Ex-dividend on the London Stock Exchange from the commencement of trading is 13 March 2025. Aankondiging • Feb 06
Anglo American plc Provides Production Guidance for the Year 2025, 2026 and 2027 Anglo American plc provided production guidance for the year 2025, 2026 and 2027. For the year 2025, the company's Copper production is expected to 690kt - 750 kt, Nickel production is expected to 37 kt - 39kt(previously 35kt -37kt), Platinum Group Metals production is expected to 3.0 Moz - 3.4 Moz, diamonds production is expected to 20 Mct - 23 Mct (previously 30 Mct to 33 Mct), Iron Ore production is expected to 57 Mt - 61 Mt, Steelmaking Coal production is expected to 10 Mt - 12 Mt (previously 17-19Mt).
For the year 2026, the company's Copper production is expected to 760 kt - 820 kt, Nickel production is expected to 37 kt - 39kt(previously 35kt -37kt), Platinum Group Metals production is expected to 3.0 Moz - 3.4 Moz, diamonds production is expected to 26 Mct - 29 Mct (previously 32 Mct to 35 Mct), Iron Ore production is expected to 54 Mt - 58 Mt.
For the year 2027, the company's Copper production is expected to 760 kt - 820 kt, Nickel production is expected to 36 kt – 38 kt, Platinum Group Metals production is expected to 3.0 Moz - 3.5 Moz, diamonds production is expected to 28 Mct - 31 Mct, Iron Ore production is expected to 59 Mt - 63 Mt. Aankondiging • Jan 30
Zashvin Pty. Ltd. completed the acquisition of an additional 33.30% stake in Jellinbah Group Pty Ltd from Anglo American plc (LSE:AAL). Zashvin Pty. Ltd. agreed to acquire an additional 33.30% stake in Jellinbah Group Pty Ltd from Anglo American plc (LSE:AAL) for AUD 1.6 billion on November 4, 2024. A cash consideration of AUD 1.6 billion will be paid by Zashvin Pty. Ltd. As part of consideration, AUD 1.6 billion is paid towards common equity of Jellinbah Group Pty Ltd. Upon completion, Zashvin Pty. Ltd. will own 66.60% stake in Jellinbah Group Pty Ltd.
The transaction is subject to approval by regulatory board / committee and is expected to complete in the second quarter of 2025.
Morgan Stanley acted as the financial advisor to Anglo American. Corrs Chambers Westgarth acted as legal advisor to Zashvin Pty Ltd. The Corrs Chambers Westgarth was led by transaction partner Alexandra Feros and Zashvin relationship partner Joshua Paffey, and supported by partners James Morley, Franka Cheung, Cameron Blackwood, Jennee Chan, Anna White and Ian Reynolds.
Zashvin Pty. Ltd. completed the acquisition of an additional 33.30% stake in Jellinbah Group Pty Ltd from Anglo American plc (LSE:AAL) on January 29, 2025. Aankondiging • Dec 25
Anglo American plc, Annual General Meeting, Apr 30, 2025 Anglo American plc, Annual General Meeting, Apr 30, 2025. Aankondiging • Dec 10
Anglo American plc Announces Appointment of Anne Wade as Non-Executive Director and A Member of Its Board Audit and Sustainability Committees, Effective 1 January 2025 Anglo American plc announced Anne Wade will join its Board as a non-executive director and a member of its Board Audit and Sustainability committees, with effect from 1 January 2025. Anne Wade is chair of Man Group plc, the London listed investment management group, and is a non-executive director of Summit Materials Inc., the New York listed infrastructure materials company. Anne spent the majority of her career in the asset management industry, largely with Capital Group focused on infrastructure investment. In her non-executive career, Anne has formerly served on the boards of Holcim Ltd. and John Laing Group plc. Aankondiging • Dec 03
Vale S.A. (BOVESPA:VALE3) acquired 15% stake in Minas-Rio of Vale S.A. from Anglo American plc (LSE:AAL). Vale S.A. (BOVESPA:VALE3) agreed to acquire 15% stake in Minas-Rio of Vale S.A. from Anglo American plc (LSE:AAL) on February 22, 2024. Under the Transaction’s terms, Vale will contribute Serpentina and $157.5 million in cash to acquire a 15% shareholding in the enlarged Minas-Rio, subject to normal completion adjustments. Vale will also have an option to acquire an additional 15% shareholding in the enlarged Minas-Rio for cash (at fair value calculated at the time of exercise of the option), if and when certain events relating to a future expansion occur. Additionally, depending on the future iron ore prices, there may be an adjustment in the transaction price and the fair value adjustments of this mechanism will be recognized in the Company's income statements accordingly. Upon completion of the transaction, Anglo American Brasil will be an associate of Vale and the investment will be accounted for under the equity method. The combination of Minas-Rio with the scale and quality of the Serpentina endowment also offers considerable expansion opportunities, including the potential to double production towards 60Mtpa. The Transaction is subject to regulatory conditions and is expected to complete in Q4 2024. Rory O'Halloran, Lara Aryani, Cynthia Urda Kassis, Maegen Morrison and Nick Withers of Shearman & Sterling LLP acted as legal advisor to Anglo American plc (LSE:AAL). Morgan Stanley acted as the financial advisor to Anglo American.
Vale S.A. (BOVESPA:VALE3)completed the acquisition of 15% stake in Minas-Rio of Vale S.A. from Anglo American plc (LSE:AAL) on December 2, 2024. Anglo American will continue to control, manage and operate Minas-Rio, including any future expansion. Aankondiging • Nov 14
159 Plaintiffs Sue Cape, Anglo American, De Beer Group PLC, and ESAB Corp More than 150 plaintiffs have filed suit against Cape, PLC, its subsidiaries and global affiliates including Anglo American, De Beer Group PLC, and ESAB Corp., which imported and distributed carcinogenic asbestos in the United States for decades. The mass action lawsuit alleges that Cape and its subsidiaries are liable for diseases caused by asbestos exposure suffered by residents of the state and beyond. It includes plaintiffs suffering from asbestos-related illnesses, including mesothelioma and lung cancer, as well as the families of those who have died from exposure to the deadly carcinogen. According to the lawsuit, Cape led efforts in the U.S. to hide from consumers and its own employees the risks that it knew existed from the South African asbestos it processed. When asbestos-related lawsuits began surfacing in the 1970s, Cape took measures to shield itself from legal action by creating new entities and then fleeing the U.S. The lawsuit details how Cape set up an elaborate structure of affiliated companies in South Africa, the United Kingdom and the United States to avoid financial responsibility for the harm it knew it was causing. Since those companies and their insurers have failed to respond to lawsuits brought on behalf of those injured or killed by asbestos-related diseases, a South Carolina court has appointed a receiver to respond on their behalf. The case is Augustus A. Adams et al. v Cape PLC et al., No. 2024-CP-40-06639 in the Court of Common Pleas, County of Richland for the Fifth Judicial Circuit. Aankondiging • Nov 04
Zashvin Pty. Ltd. agreed to acquire an additional 33.30% stake in Jellinbah Group Pty Ltd from Anglo American plc (LSE:AAL) for AUD 1.6 billion. Zashvin Pty. Ltd. agreed to acquire an additional 33.30% stake in Jellinbah Group Pty Ltd from Anglo American plc (LSE:AAL) for AUD 1.6 billion on November 4, 2024. A cash consideration of AUD 1.6 billion will be paid by Zashvin Pty. Ltd. As part of consideration, AUD 1.6 billion is paid towards common equity of Jellinbah Group Pty Ltd. Upon completion, Zashvin Pty. Ltd. will own 66.60% stake in Jellinbah Group Pty Ltd.
The transaction is subject to approval by regulatory board / committee and is expected to complete in the second quarter of 2025. Aankondiging • Nov 01
Yancoal Reportedly Primed to Snap Up Anglo Coal Portfolio Speculation is mounting that Glencore plc (LSE:GLEN) is betting on a break-up play for the Anglo American plc (LSE:AAL) coal portfolio, and that it may only be bidding for some of the assets within the USD 3 billion offering. Should that be the case, it further cements Yancoal Australia Ltd. (ASX:YAL)'s position as the leader in the race. DataRoom understands that the China-controlled but Australian-listed Yancoal has already gained approval from the Chinese government to buy the assets and has 15 banks lined up and approved to provide funding. Other suitors are a Stanmore Resources Limited (ASX:SMR) Coal-led consortium, which could face challenges in getting all its bidding partners to agree on price, and Peabody Energy Corporation (NYSE:BTU), seen as an outside chance. Goldman Sachs and Morgan Stanley are working on the sale. One of the assets Glencore is probably keen to side step is the Grosvenor Mine 1,000km northwest of Brisbane that has been hit by closures due to a fire. Bids are due next week. Should the portfolio be split up, the major players could pick up Moranbah North and Grosvenor, Jellinbah could go to co-owners, while others take Capcoal and Dawson. It is understood existing shareholders and lenders have tipped in funds for the deal, to be announced on 01 November 2024. Aankondiging • Oct 24
Anglo American plc Revises Production Guidance for Year 2024 Anglo American plc revised production guidance for Year 2024. For the period, the company expects to produce Copper of 730 kt - 790 kt, Platinum Group Metals production is expected to 3.3 Moz - 3.7 Moz, diamonds production is expected to 23 Mct - 26 Mct, Iron Ore production is expected to 58 Mt - 62 Mt, Steelmaking Coal production is expected to 14 Mt - 15.5 Mt. The company now expects nickel production of 38 kt -39 kt against a previous guidance of 36 kt- 39 kt. Buy Or Sell Opportunity • Oct 09
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.2% to UK£22.82. The fair value is estimated to be UK£29.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Aug 23
Yancoal Reportedly on the Hunt for Met Coal Deal China-backed Yancoal Australia Ltd. (ASX:YAL) will mount an assault on Australia's $60 billion metallurgical coal industry, building a $1.5 billion war chest for a move which could catapult it into one of the nation's leading producers amid surging Asian demand. The company known for its thermal coal mines is expected to table an offer for Anglo American plc (LSE:AAL)'s local metallurgical coal division, which was put on the sale block earlier this year with price expectations in the USD 5 billion ($7.4 billion) range, with bids for those assets expected by September 9. A successful buyout would instantly transform Yancoal into one of the top three steelmaking coal producers globally if bought out in their entirety. Anglo's Queensland mines produced 15 million tonnes of coal last year with plans to hit 20 million tonnes a year by 2026. Any deal, if successful, would be the second company-transforming transaction pulled off by Yancoal, following its USD 2.45 billion purchase of Coal & Allied from Rio Tinto in 2017, which brought the Hunter Valley operations and Mt Thorley Warkworth into the business. However, any tilt by the Chinese controlled company for the Anglo mines may also raise concerns with the Foreign Investment Review Board should it win the looming auction. But while Yancoal chief executive David Moult was at pains to emphasise the significant benefits that would flow to shareholders from any such deal, investors were unimpressed after Yancoal revealed it had suspended dividend payments to shore up the balance sheet. The stock tumbled more than 34% from 21 August 2024 close at one point before recovering to close 14.5% lower at $5.95, on about 10 times normal trading volume. The stock plunge, which began to play out during a morning conference call with shareholders and analysts, led Mr. Moult to reassure shareholders that the new strategy was the best way forward. He said the company already had the "the three best thermal coal mines in Australia", but wanted to balance its portfolio with metallurgical coal assets. Aankondiging • Aug 09
Arc Minerals Limited and Anglo American's Joint Venture Commence Zambia Drilling Arc Minerals Limited announced that, further to its announcement of 2 May 2024 and following the completion of an extensive ground mapping exercise over its Zambian tenements, the Anglo American/Arc joint venture has commenced drilling. A number of holes are planned at Cheyeza following which the Muswema target will be drilled. Further details on the drilling programme will be announced as the drilling progresses. Aankondiging • Aug 08
Yancoal Reportedly Hires Investment Bank for Anglo American Coal Sale Australian-listed coal miner Yancoal Australia Ltd. (ASX:YAL) is understood to have tapped investment bank RBC in its quest to buy Anglo American plc (LSE:AAL)'s suite of Queensland-based metallurgical coal mines that may sell for up to $5 billion (AUD 7.7 billion). Yancoal, which is 62% owned by the China state-owned Yankuang Energy, is expected to be a strong contender for the assets owned by the London-listed miner, which was this year targeted for a buyout by BHP, while the Swiss commodity trader Glencore is expected to run hard at the opportunity. Glencore will come to the competition self-advised, while Yancoal and Glencore will likely face scrutiny from the Foreign Investment Review Board. Stanmore Coal is thought to be in the mix, and Indonesian backers are likely to be there to support its bid or play separately, such as BUMA Energy and Stanmore's backer Golden Energy, but so far Glencore is considered the group to beat. The process starts this month, with Anglo American opting to dive straight in with the provision of information memorandums in a process run by Morgan Stanley and Goldman Sachs. Suitors have already signed up to enter a data room. On offer are Anglo American's Capcoal and Dawson assets and its most attractive mines, Moranbah North and Grosvenor. Also in the mix are its Aquila project, an interest in Jellinbah and the potential Moranbah South project. Aankondiging • Jul 25
Anglo American plc Announces an Interim Dividend for the Six Months Ended 30 June 2024, Payable on 27 September 2024 Anglo American plc announced an interim dividend for the six months ended 30 June 2024 of $0.42 per share compared to $0.55 per share a year ago. Ex-dividend on the JSE from the commencement of trading date is 14 August 2024. Record date (applicable to both the principal register and branch registers) is 16 August 2024. Payment date of dividend is 27 September 2024. Aankondiging • Jul 18
Anglo American plc Provides Production Guidance for Year 2024 Anglo American plc provided production guidance for year 2024. For the year, the company's Copper production is expected to 730 kt - 790 kt, Nickel production is expected to 36 kt - 38 kt, Platinum Group Metals production is expected to 3.3 Moz - 3.7 Moz, diamonds production is expected to 26 Mct - 29 Mct, Iron Ore production is expected to 58 Mt - 62 Mt, Steelmaking Coal production is expected to 14 Mt - 15.5 Mt (previously 15-17 Mt). Aankondiging • Jul 09
Anglo American Reportedly Hires Banks for Coal Assets Sale Anglo American plc (LSE:AAL) has hired three banks for the sale of its steelmaking coal assets, which analysts value at as much as $5 billion and is part of a broader restructuring to fend off an approach from rival BHP (BHP.AX), two sources close to the matter said. Anglo's CEO Duncan Wanblad said in May the sale of its five operating coal mines, development projects and joint ventures in Australia was soon to kick off, as part of a wider plan to divest less profitable assets and focus on expanding copper output after BHP's failed attempt to take over the company. Aankondiging • Jul 01
Anglo American Suspends Production At Grosvenor in Queensland, Australia Due to Underground Coal Gas Ignition Incident Anglo American has suspended production at its Grosvenor steelmaking coal mine in Queensland, Australia, following an underground coal gas ignition incident on 29 June 2024. All emergency protocols were followed and the workforce was safely evacuated from the mine without injury. The mine team is working with specialist teams from the Queensland Mines Rescue Service and the regulatory authorities to extinguish the underground fire, prior to being able to assess the steps towards a safe re-entry into the mine. These procedures are expected to take several months as a result of the likely damage underground. Anglo American's steelmaking coal business expects to produce c.8 million tonnes of product in the first half of 2024, of which Grosvenor will contribute c.2.3 million tonnes. For 2024 as a whole, production guidance for the steelmaking coal business is 15 to 17 million tonnes, of which Grosvenor was expected to contribute c.3.5 million tonnes, representing lower production in the second half of the year due to a planned longwall move. An update to steelmaking coal production guidance will be provided once more information is available. Aankondiging • Jun 24
Anglo American Reportedly Sets Up for AUD 7.5 Billion Coal Exit Anglo American plc (LSE:AAL) is expected to appoint an investment bank any day for a sale of its $5 billion (AUD 7.5 billion) portfolio of Australian coalmining assets, according to sources in the market. The sale, which comes after an announced company break-up while it has been fending off advances from BHP, will involve big dollars for what are some of the best metallurgical coal mines in the world. That may limit the field somewhat. One of the parties most strongly positioned for the portfolio is BHP itself, but perhaps it does not want to be seen to be reinforcing Anglo American's break-up strategy that enhances Anglo's value. But sources say BHP will not be in contention for the mines. If the break-up of Anglo American does not go well, it's always been considered a possibility that BHP comes back a second time with an "all of company" bid for Anglo American after several months. The bet by some is that the coal auction attracts non-conforming offers. China-backed Yancoal Australia Ltd. (ASX:YAL) will probably bid for Anglo American's Capcoal and Dawson assets, while Whitehaven Coal Limited (ASX:WHC), Coronado Global Resources Inc. (ASX:CRN) and Stanmore Resources Limited could bid for the other more attractive mines, Moranbah North and Grosvenor. Other assets that form part of the Queensland portfolio are the Aquila project, an interest in Jellinbah and the potential Moranbah South project, producing about 16 million tonnes a year. Glencore would also be large enough to buy the mines, but the Swiss trader is yet to complete its acquisition of Teck Resources, so could be distracted with that. Other than that, it's hard to see what other groups would be well placed to buy the entire portfolio, with Whitehaven Coal busy digesting the coal mines it has only just bought from BHP. There's been a view that perhaps the reason why BHP sold its Daunia and Blackwater coal mines in the first place was to make way for the Anglo American assets it would inherit as part of its planned buyout, clearing any challenges it may face owning both from the Australian Competition & Consumer Commission. In terms of selecting an investment bank, Anglo American has used Goldman Sachs and Morgan Stanley as its defence advisers so both could be well-placed. Aankondiging • May 31
BHP Provides Update on its Offer for Anglo American On 22 May 2024, BHP Group Limited (ASX: BHP) announced a revised proposal for a combination with Anglo American plc (LSE:AAL) and the Board of Anglo American announced an extension to the deadline for BHP to make an offer for Anglo American to 29 May 2024 (Deadline). BHP welcomed the extension as it provided the opportunity to engage with Anglo American about its concerns regarding BHP's proposal. Since the extension to the deadline, BHP has continued to work extensively to address those matters. This has included several engagements with Anglo American and its advisers. BHP's response to Anglo American: BHP has proposed a range of socioeconomic measures intended to address Anglo American's concerns regarding our proposed transaction structure. BHP is confident that the measures it has proposed to the Board of Anglo American provide a viable pathway to resolve the matters raised by Anglo American and would support South African regulatory approvals. BHP has considered market precedent transactions and believes that the risks are quantifiable and manageable. BHP has already factored the costs associated with these risks into the offer ratio of its proposal. BHP believes that these proposed measures would provide greater economic benefits to South Africa than Anglo American's Accelerating Value Delivery plan, mitigate perceived value and completion uncertainty and ensure that any costs are not borne disproportionately by Anglo American shareholders. BHP has indicated that it would also be willing to discuss an appropriate reverse break fee, payable by BHP, on failure to achieve the necessary anti-trust and regulatory approvals, including in South Africa. Socio-economic initiatives in South Africa: BHP's proposal comprises an all-share offer for Anglo American subject to the pro-rata distribution by Anglo American of its entire shareholdings in Anglo Platinum and Kumba Iron Ore to Anglo American shareholders immediately before completion of the scheme of arrangement. Anglo Platinum and Kumba Iron Ore would continue to be listed in South Africa on the Johannesburg Stock Exchange (JSE). BHP intends to maintain its listing on the JSE and is expected to achieve a JSE index weighting of approximately 5% on completion. BHP continues to believe that there would be clear benefits to the South African government, economy and communities from Anglo Platinum and Kumba Iron Ore becoming major standalone entities listed on the JSE with significant increased JSE index weightings. Anglo Platinum and Kumba Iron Ore would be independently run by established South African-based management teams. As self-governed companies, Anglo Platinum and Kumba Iron Ore would be better placed to reinvest cash flow and capital directly into South Africa. As part of its increased presence in South Africa, BHP intends to continue and build on Anglo American's legacy of social investment and value creation in South Africa including by: if required to secure regulatory approvals, BHP sharing in the costs of increased South African employee ownership of the listed South African businesses; ?establishing a Mining Centre of Excellence to support R&D, training and promotion of South Africa as a premier mining destination; maintaining current employment levels at Anglo American's Johannesburg office to provide ongoing support to the South African assets to be acquired and other assets in the combined group, as well as to Anglo Platinum and Kumba as a third party service provider; ?maintaining funding for Anglo American's charitable commitments in South Africa at the current level; supporting local South African procurement and engagement across mining industry sectors and regions; ensuring continued access for South African investors through the listing of BHP on the Johannesburg Stock Exchange; and maintaining Anglo American's existing South African Reserve Bank (SARB) and National Treasury undertakings, to the maximum extent practicable. These proposed measures are expected to be maintained for a period of at least three years. BHP believes that its proposal will contribute to South Africa and allow the benefits of South African mining to be shared with more South African stakeholders. Next steps: BHP believes that the proposed measures it has put forward provide substantial risk protection for Anglo American shareholders and supplement the significant value uplift that Anglo American shareholders will receive from the potential combination. BHP believes a further extension of the Deadline is required to allow for further engagement on its proposal. This announcement does not amount to a firm intention to make an offer and there can be no certainty that an offer will be made. There is no certainty that any form of agreement or transaction will be reached or concluded. Nothing in this announcement constitutes or intended to constitute a post-offer undertaking for the purposes of Rule 19.5 of the UK Code. This announcement is being made by BHP without prior agreement or approval of Anglo American. Authorised for release by Stefanie Wilkinson, Group Company Secretary. Board Change • May 31
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Finance Director & Executive Director John Heasley was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • May 25
Anglo American Rejects Further BHP Proposal On 20 May 2024, the Board of Anglo American plc (LSE:AAL) received a third unsolicited, non-binding and highly conditional takeover proposal from BHP Group Limited (ASX: BHP) (the "Latest Proposal"). Under the terms of the Latest Proposal, for each Anglo American share owned, Anglo American's shareholders would receive: 0.8860 BHP shares; and Ordinary shares in each of Anglo American Platinum Limited and of Kumba Iron Ore Limited (distributed by Anglo American to its shareholders in direct proportion to Anglo American's shareholders' effective interest in Anglo American Platinum Limited and Kumba Iron Ore Limited). The terms of the Latest Proposal represent a total value, based on undisturbed share prices as at market close on 23 April 2024, of approximately £29.34 per Anglo American share. On the basis of the 30-day and 90-day volume weighted average share prices up to and including 23 April 2024, the terms of the Latest Proposal would value Anglo American at £29.91 and £29.67 per Anglo American share, respectively. The Latest Proposal includes the same highly complex structure as the proposals previously rejected on 26 April 2024 and 13 May 2024. This involves an all-share offer for Anglo American by BHP, with a requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American's shareholders. The all-share offer and required demergers would be inter-conditional. The Board and its advisers have engaged with BHP and its advisers on multiple occasions with a particular focus on the proposed structure and associated risks. The Board continues to believe that there are serious concerns with the structure given that it is likely to result in material completion risk and value impact that disproportionately falls on Anglo American's shareholders. The requirement to pursue two contemporaneous demergers of publicly listed companies alongside a takeover and the inter-conditional nature of the three transactions is unprecedented, and as a result of a takeover would result in additional material approvals and conditions, particularly in South Africa. BHP's Latest Proposal is therefore in clear contrast to Anglo American's simpler standalone plan to accelerate value delivery announced on 14 May 2024 and its proposal to demerge Anglo American Platinum Limited - a single demerger that Anglo American has a proven track record in delivering. The complex process proposed by BHP is likely to take 18 months or more to complete and carries significant execution and completion risks relating to both value and time. The key elements of Anglo American's standalone plan to accelerate value delivery are expected to be substantively complete by that stage. The approvals required in relation to BHP's Latest Proposal will also likely result in conditions being imposed that disproportionately impact Anglo American Platinum Limited and Kumba Iron Ore Limited and, therefore, Anglo American's shareholders. In addition, the Board has also considered detailed feedback from its extensive engagement with Anglo American's shareholders and stakeholders since the release of Anglo American's accelerated plans for delivery of its standalone strategy on 14 May 2024, continuing its engagement with its shareholders since the approach from BHP became public on 24 April 2024. The Board is confident in Anglo American's standalone future prospects and believes that Anglo American has set out a clear pathway to deliver the acceleration of its strategy detailed on 14 May 2024, that is expected to unlock significant and undiluted value for Anglo American's shareholders. Taking the above considerations into account, the Board of Anglo American has unanimously rejected the Latest Proposal. In order to allow for further engagement with BHP on the mitigation of risks and value impact on Anglo American's shareholders that are inherent in its Latest Proposal, Anglo American announces that, in accordance with Rule 2.6(c) of the Code, the Board has requested, and the Panel on Takeovers and Mergers (the "Panel") has consented to, an extension to the date by which BHP is required either to announce a firm intention to make an offer for Anglo American in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00 p.m. on 29 May 2024. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code. Stuart Chambers, Chairman of Anglo American, commented: "The Board is confident in Anglo American's standalone future prospects and believes that Anglo American has set out a clear pathway and timeframe to deliver the acceleration of its strategy to unlock significant and undiluted value for Anglo American's shareholders. The Board considered BHP's Latest Proposal carefully, concluded it does not meet expectations of value delivered to Anglo American's shareholders, and has unanimously rejected it. In particular, it does not address the Board's concerns about the structure, which results in significant complexity, execution risks, an extended timeline to completion and consequently has the potential for material value leakage to be disproportionately suffered by Anglo American's shareholders. Multiple engagements with the BHP team have not yet been able to resolve the concerns on these issues. "However, the Board is willing to continue to engage with BHP and its advisers on this topic and has therefore requested a one week extension to the PUSU deadline which has been consented to by the Panel." There can be no certainty that any firm offer will be made and, save as set out in BHP's announcement dated 13 May 2024 (and subject to the reservations set out therein), there can be no certainty as to the terms on which an offer may be made. Board Change • May 23
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Finance Director & Executive Director John Heasley was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • May 16
BHP Chief Urges Anglo Investors to Consider Takeover Benefits BHP Group Limited (ASX:BHP) Chief Executive Mike Henry said that Anglo American plc (LSE:AAL) investors need to consider the merits of his company's bid for its smaller London-listed rival, seeking to drum up support for a proposal that has been rejected twice. The CEO of the world's biggest listed mining group told investors at a metals and mining conference in Miami that Anglo shareholders must make a "determination" on the benefits of a combination of the two companies and which team they think has a better track record of executing projects and delivering returns to investors. Anglo CEO Duncan Wanblad on May 14, 2024 outlined plans to refocus on energy transition metal copper while spinning off or selling its less profitable coal, nickel, diamond and platinum businesses. Henry, meanwhile, emphasised the merits of BHP's $43 billion bid and dismissed concerns that the proposed deal would be complex to execute. "At the end of the day, it's going to be up to shareholders. They have to look at the plans, decide which one they believe is going to create the greatest value soonest," he said. "And they have to make a determination as to the likelihood of execution of those plans, including which team they believe is more capable and has a better track record of execution. It's that simple." The Anglo board argues that the proposed deal undervalues the company and is difficult to execute, with BHP planning to demerge two of Anglo's South African assets prior to a takeover. BHP chief Henry, however, says the company has sufficient experience to execute complex transactions, having divested South32 (S32.AX), opens new tab assets in South Africa. Henry said he was disappointed with the Anglo board's continued refusal to engage, adding that BHP would have preferred to continue talking in private. "Our strong preference was to be able to hold these discussions with Anglo in private," Henry said. "Rather unfortunately, it got leaked." While BHP is intent on growing its copper business, it would maintain its disciplined approach to capital allocation, Henry said, adding that the copper industry remains fragmented. "We do not take capital discipline lightly, we will remain disciplined and we have demonstrated that in previous instances," he said. Aankondiging • May 14
BHP Group Limited (ASX:BHP) cancelled the acquisition of Anglo American plc (LSE:AAL) from Tarl Investment Holdings, Ltd., Epoch Investment Holdings Limited and Epoch Two Investment Holdings Limited. BHP Group Limited (ASX:BHP) offered an unsolicited, non-binding and highly conditional combination proposal to acquire Anglo American plc (LSE:AAL) from Tarl Investment Holdings, Ltd., Epoch Investment Holdings Limited and Epoch Two Investment Holdings Limited for £22.5 billion on April 16, 2024. Under the terms of the Proposal, ordinary shareholders of Anglo American would receive 0.7097 BHP shares for each ordinary share in Anglo American; and ordinary shares in Anglo Platinum and Kumba (which would be distributed by Anglo American to its shareholders in direct proportion to each shareholder's effective interest in Anglo Platinum and Kumba). The proposal comprises an all-share offer for Anglo American by BHP and would be preceded by separate demergers by Anglo American of its entire shareholdings in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American shareholders. The two parts of the proposal would be inter-conditional. The Board is currently reviewing this proposal with its advisers. An offer period has now commenced not later than 5.00 p.m. until May 22, 2024, either the BHP announce a firm intention to make an offer for Anglo American. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. There can be no certainty that any offer will be made nor as to the terms on which any such offer might be made. The Proposal is non-binding and subject to customary conditions including completion of due diligence to the satisfaction of BHP. Anglo American has been offered reciprocal due diligence on BHP.
James Hartop, Edward Rowe and Fiona McHardy of Centerview Partners UK LLP; Mark Sorrell, David Hammond and Bertie Whitehead of Goldman Sachs International; and Simon Smith, Anthony Zammit and Tom Perry of Morgan Stanley & Co. International plc acted as Financial Adviser; and Linklaters LLP is retained as legal adviser to Anglo American. UBS, Barclays acted as financial advisor to BHP.
BHP Group Limited (ASX:BHP) cancelled the acquisition of Anglo American plc (LSE:AAL) from Tarl Investment Holdings, Ltd., Epoch Investment Holdings Limited and Epoch Two Investment Holdings Limited on May 13, 2024. On April 26, 2024, Anglo American board has considered the Proposal with its advisers and concluded that the Proposal significantly undervalues Anglo American and its future prospects, while significantly diluting the relative value upside participation of Anglo American's shareholders relative to BHP's shareholders. In addition, the Proposal contemplates a structure which the Board believes is highly unattractive for Anglo American's shareholders, given the uncertainty and complexity inherent in the Proposal, and significant execution risks. The Board has therefore unanimously rejected the Proposal. As of May 7, 2024, BHP Group Limited made a revised proposal regarding a potential combination to be effected by way of a scheme of arrangement. Under the Revised Proposal, BHP has increased the number of BHP shares that would be received by Anglo American shareholders. Under the terms of the Revised Proposal, ordinary shareholders of Anglo American would receive: 0.8132 BHP shares for each ordinary share they own in Anglo American (BHP Share Consideration) and rdinary shares in each of Anglo American Platinum Limited and of Kumba Iron Ore Limited (distributed by Anglo American to its shareholders in direct proportion to Anglo American shareholders' effective interest in Anglo American Platinum Limited and Kumba Iron Ore Limited), which represents Anglo American shareholders owning, in aggregate, approximately 16.6% of the combined BHP and Anglo American group on completion of the potential combination. As of May 13, 2024, the Revised Proposal was also rejected by the Anglo American Board as the Board considered the Latest Proposal with its advisers and concluded that it continues to significantly undervalue Anglo American and its future prospects. Anglo American shareholders are advised to take no action in relation to this matter. A further announcement will be made as and when appropriate. There can be no certainty that any firm offer will be made. Aankondiging • May 04
Glencore Reportedly Studying an Approach for Anglo American Glencore plc (LSE:GLEN) is studying an approach for Anglo American plc (LSE:AAL), two sources said, a development that could spark a bidding war for the 107-year old mining company. Glencore has not yet approached Anglo, one of the sources said. The discussions are internal and preliminary at this stage and may not result in an approach, the source added. "We do not comment on market rumour or speculation," a Glencore spokesperson said. Anglo on April 26, 2024 rejected a $39 billion all-stock proposal from the world's No. 1 miner BHP Group Limited (ASX:BHP). BHP's proposed premium was 31% above Anglo's closing price on April 23. A source familiar with the matter previously told Reuters that the Australian mining giant is considering making an improved offer. It has until May 22 to make a formal bid. U.S. shares of Anglo American rose after the news, closing up 6.5% on the session. Aankondiging • Jul 25
Suitors Reportedly Prepare to Lob Bids for Chalice Suitors lining up for $2.3 billion nickel explorer and developer Chalice Mining Limited (ASX:CHN) are preparing to lob their final offers by August 21, sources say. The company's main project is its Julimar nickel and copper project in Western Australia's Avon region, 70km northeast of Perth. The group's Gonneville deposit is one of the world's nickel sulphide discoveries. It reported a net loss of $33.7 million for the six months to December and is looking for a backer to fund its development through Standard Chartered. But some believe the process could result in an acquisition of the company as a whole. Sources say Chalice is open to several options including a partial sale of about 20% of the group, or 100%. The king maker is Founding Chairman Tim Goyder, who owns just over 8% of the business. He has proved a tough negotiator on price, based on the experience of Albemarle, which has been courting Liontown. Mr. Goyder, who stepped down as the Chairman of Chalice Mining in 2021, also owns 15% of Liontown. Albemarle, the world's lithium producer, offered $5.5 billion for that company, currently worth $6 billion, but that was rejected. Anglo American plc (LSE:AAL), South32 Limited (ASX:S32), BHP Group Limited (ASX:BHP) and Rio Tinto Limited are expected to be lining up for Chalice's platinum metals assets. Some experts say the big players will be obliged to look at the asset, simply given the size of the resource, but the project is not yet in production and will take a long time from an environment point of view. The world's platinum producer, Sibanye Stillwater Limited (JSE:SSW), could also be in the mix. 
