BHP’s Mike Henry says Anglo American’s plan to demerge its South African mines vindicates the structure of BHP’s $64 billion takeover bid.
Critical minerals sector welcomes $17.6 billion in tax credit support, but it may be too little, too late to save BHP’s nickel business and 3000 jobs.
Anglo American will sell or shut everything except its copper, iron ore and potash mines as part of a strategy to dodge BHP’s advances.
Treasury assumes that iron ore and coal prices will fall from their present elevated level back to their long-run levels by the end of the March quarter in 2025.
Anglo American has pulled out a takeover defence with the works. Now, it has to convince shareholders not to side with BHP.