BHP’s bid for Anglo American would be the largest merger in a decade


April 25, 2024

BHP Group has bid $38.8 billion for smaller rival Anglo American, offering a deal to forge the world’s biggest copper miner. If the deal is completed, it would be the largest merger in the mining sector in the past decade. Reuters has complied the following list of notable mergers in the mining industry.

• Precious metals producer Polymetal International sold its Russian assets to Siberian gold miner Mangazeya Plus in March, for about $3.7 billion.
• Teck Resources agreed last year to sell its coal business to a consortium led by Swiss miner Glencore for $9 billion. It expects the sale to close no later than the third quarter of 2024, its CEO said in February.
• The world's top gold producer Newmont bought Australia's Newcrest Mining for $16.8 billion in late 2023.
• The world's fourth largest steelmaker Nippon Steel bought U.S. Steel late last year in a $14.1 billion deal.
• Whitehaven Coal last year bought mining giant BHP Group's Blackwater and Daunia mines, part of the BHP Mitsubishi Alliance (BMA) metallurgical coal joint venture in Queensland, Australia, for $4.1 billion.
• In November 2022, Canada's Yamana Gold agreed to a $4.8 billion takeover bid from Agnico Eagle Mines Ltd and Pan American Silver Corp.
• In December 2022, Rio Tinto completed its more than $3 billion acquisition of Canada's Turquoise Hill Resources, buying the 49% stake it did not already own.
• In 2022, BHP bid $6.5 billion for copper and gold producer OZ Minerals. The deal was completed in May 2023.
• In 2018, Canada's Barrick Gold Corp agreed to buy Randgold Resources Ltd in an all-stock deal valuing the Africa-focused miner at $6.5 billion at the time.
• In 2017, China's top coal miner Shenhua Group Corp Ltd took over China Guodian Group Corp to create a global powerhouse worth $280 billion.
• In 2013, Glencore completed the all-share $31 billion takeover of Anglo-Swiss mining company Xstrata.
• Rio Tinto acquired Canada's Alcan in July 2007 in a deal worth $38.1 billion, making it the world's largest producer of aluminium and bauxite at the time.

Photo: A worker attends to machinery at a smelter plant at Anglo American Platinum's Unki mine in Shurugwi, Zimbabwe, May 16, 2019. REUTERS/Philimon Bulawayo/ File Photo


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