Mega $60bn deal set to reshape Australia

Australia ’s largest mining company is swooping in on a rival coal and copper giant in a transformative $60bn takeover bid .

“The combined entity would have a leading portfolio of large, low-cost, long-life Tier 1 assets focused on iron ore and metallurgical coal and future facing commodities, including potash and copper.” In Australia, Anglo mines steelmaking coal in Queensland’s Bowen Basin and holds a stake in a manganese mine in the Northern Territory.

In a speech to the IEA Critical Minerals and Clean Energy Summit in Paris last year, Mr Henry said about $386bn of “growth capital” investment into copper could be needed in the next seven years to limit temperatures rises to 1.5C.If approved, the deal would add new copper mines to BHP’s portfolio. BHP’s key commodities are West Australian iron ore, South Australian copper and Queensland coal, and the company said Anglo’s assets would complement its own operations.

If the deal goes through, BHP would once more become the kingpin of Queensland’s coalfields, adding Anglo’s Moranbah, Grosvenor, Dawson and Aquila mines to its own Goonyella, Broadmeadow, Caval Ridge, Peak Downs and Saraji mines.

Metallurgical Coal Operations Massive Takeover Bid Market Value Temperatures Rises North America Offer Price Melbourne Platinum Mines Brazil South African Iron Ore All-Share Offer Northern Territory Chile Copper Rival Mining Company Mining Giant Copper Mines Northern Europe Iron Ore Assets Facing Commodities Europe Victoria Africa Sky News Quality Iron Ore Western Europe Mike Henry Northern America Cash Flows London South Africa Platinum Business Australian Iron Ore Metallurgical Coal Portfolios Peru Mining Rival Copper Giant Decarbonisation Ambitions Margin Cash Newswire-News Anglo American Plc Metallurgical Coal United States Of America Iron Ore Operations Oceania South Australia Platinum Operations Target Commodity America France Aaron Francis Growth Projects Iron Ore Australia And New Zealand United Kingdom Duncan Evans Takeover Bid South American Copper Mines David Lamont Southern Africa Diamond Business Mines Steelmaking Coal Copper Production Australia British Resources Company Deal Set Edward Boyd Paris Queensland

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