South African Mines Minister Gwede Mantashe signaled his opposition to BHP Group Ltd.’s proposed takeover of Anglo American Plc.
“I wouldn’t support it,” Mantashe said by phone on Thursday. “I don’t think Anglo will agree to that. I wouldn’t if I was on the board.” The plan to demerge Amplats and Kumba “makes sense” because what BHP really wants is Anglo American’s Latin American copper assets, said Nic Stein, a fund manager at Cape Town-based Coronation Fund Managers, which owns about 0.9% of Anglo American. He described BHP’s per-share offer of about £25.08 as “on the light side” and said it was either likely to be raised or other suitors might enter the fray.
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