Tag: $BHP

BHP Group will focus on growing its copper business through existing and incoming projects after its failed attempt to buy Anglo American, it said as it reported a better-than-expected 2% rise in annual underlying profit.

Global mining giant BHP has reached an agreement with a striking union at its massive Escondida copper mine in Chile, the firm said on Friday, which will see the three-day strike called off and defuse fears about a hit to global supplies of the metal.

Global miner BHP Group and Canada-listed Lundin Mining will jointly take over developer Filo for C$4.5 billion ($3.25 billion), the companies said on Monday, as they move to progress the South American projects.

Anglo American on Wednesday rejected BHP Group’s last-ditch request for more time to discuss a $49 billion takeover offer, dismissing it as highly complex and likely ending a five-week pursuit by the bigger rival.

Mining giant Anglo American on Friday rejected a takeover bid from rival BHP Group, saying the offer “significantly undervalues” the company and its future prospects.

Two of the world’s largest mining giants are considering merging in what would be one of the biggest industry moves in years, something that would likely reshape the playing field for U.S.