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Ferrous Metals News
BHP shareholders see room for one more sweetened Anglo bid
By: Bloomberg 15th May 2024 Shareholders in BHP Group and takeover target Anglo American expect the world’s largest miner to come back with a third and improved proposal before a regulatory deadline next week, even after the smaller company laid out a bold restructuring plan of its own on Tuesday. Anglo has twice rejected... →
Execution risk to Anglo’s restructure plan substantial – WoodMac
By: Darren Parker 15th May 2024 Mining major Anglo American has accelerated its portfolio planning in the wake of rejecting fellow mining major BHP’s second bid proposal of $42.2-billion (£34-billion), or £27.70 a share, in a move that new research by consulting firm Wood Mackenzie (WoodMac) shows will take it from being the... →
Brazil states ask court to double what Vale, BHP should pay for dam burst
By: Reuters 15th May 2024 Two Brazilian states have asked a court to more than double the amount that miners Vale and BHP, plus a jointly owned tie-up, must pay in damages for a 2015 deadly tailings dam failure, according to a legal document seen by Reuters on Tuesday. In January, a Brazilian federal judge ruled that... →
The 2015 dam collapse aftermath
US tariffs on minerals leave out markets that China dominates
By: Bloomberg 15th May 2024 President Joe Biden just unveiled sweeping tariffs on a range of Chinese imports, including more than two dozen industrial raw materials. But the administration is being careful to avoid the critical minerals where Beijing’s grip on global supply is greatest. The commodities that made the duties... →
BHP’s top Australian investor eyes restraint in battle for Anglo
By: Bloomberg 15th May 2024 Pension giant AustralianSuper, BHP Group’s largest Australian shareholder, said capital discipline was of “utmost importance” for the mining industry as investors weigh the heavyweight’s twice-rebuffed efforts to woo smaller rival Anglo American. Luke Smith, the senior portfolio manager who... →
Anglo-BHP battle is between two CEOs fighting over same vision
By: Bloomberg 15th May 2024 As Anglo American sets out a survival plan that echoes the vision of its suitor BHP Group, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job. Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took center stage on Tuesday, as the... →
Investors expect BHP to lift Anglo American offer again
By: Reuters 14th May 2024 BHP is likely to sweeten its $43-billion takeover offer for Anglo American for a second time and possibly add cash, investors in both companies said on Tuesday, after the London-headquartered target rejected a higher bid. Anglo said the improved all-share offer, up 10% from BHP's initial... →
Buxton acquires Arizona manganese exploration project
By: Creamer Media Reporter 14th May 2024 Australia-listed Buxton Resources on Tuesday announced an agreement to acquire a manganese brownfields exploration project in Arizona, US. The Matrix manganese project, in Mohave county, is adjacent to the Artillery Peak project, which has a resource of 277-million tonnes at 2.8% manganese. →
Analysts highlight concerns over valuation, regulatory hurdles in BHP-Anglo proposal
By: Mariaan Webb 14th May 2024 The rejection – for the second time – of BHP’s attempt to propose a deal with Anglo American underscores the concerns that continue to persist regarding value and regulatory hurdles in the proposed transaction. Responding to the latest developments in the BHP-Anglo takeover, CreditSight analysts... →
Anglo rejects BHP's revised £34bn proposal
By: Mariaan Webb 13th May 2024 Diversified major Anglo American has rejected a revised proposal put forward by BHP, which valued the UK-headquartered miner at about £34-billion. The structure of the revised proposal, unveiled on Monday, remained unchanged from the previously rejected proposal of last month. It comprises an... →
Element25 expedites Butcherbird expansion activities amid manganese price rebound
By: Creamer Media Reporter 13th May 2024 ASX-listed developer Element 25 is speeding up efforts to expand its Butcherbird project, in Western Australia, seizing the opportunity presented by a resurgence in manganese ore prices. Following a feasibility study published in January, Element 25 is poised to boost production at Butcherbird... →
South32’s Hermosa federal permitting process gets under way
By: Mariaan Webb 13th May 2024 The US Forest Service (USFS) has initiated the federal permitting process for the South32 Hermosa project, in Arizona. Under the umbrella of the National Environmental Policy Act, the USFS has launched the scoping process, inviting public input and commentary on South32’s project plans. This... →
Rio Tinto says a driverless iron-ore train derailed in Western Australia
By: Reuters 13th May 2024 Rio Tinto said on Monday an autonomous train had derailed at its Western Australian iron-ore operations overnight and that it was investigating the incident in which no one was hurt. The incident occurred when an autonomous train collided with a set of stationary wagons loaded with iron-ore... →
Anglo investors tell company to move faster to survive BHP bid
By: Bloomberg 13th May 2024 Anglo American’s shareholders are pushing the company to speed up the release of its turnaround plan as the 107-year-old miner seeks to present an alternative to BHP Group’s takeover bid. Anglo has been reviewing its business since mid-2023, looking at every mine in its portfolio to help reshape... →
Fantastic advance by Proudly South African manganese battery metal first-mover 
By: Martin Creamer 10th May 2024 Proudly South African Manganese Metal Co (MMC) of Mbombela, Mpumalanga, is making a fantastic first-mover advance to enter the manganese battery metal market, which is progressing super-fast. To be established is a faster stream to market, which is not only ahead of the global game, but also... →
Rio Tinto had considered a bid for BHP-target Anglo American, AFR reports
By: Reuters 10th May 2024 Mining giant Rio Tinto had considered an offer for British miner Anglo American, which is now BHP Group's $39-billion takeover target, the Australian Financial Review reported on Friday. Rio "management had not ruled out making a play for part or all of the mining group and continued to study... →
Anglo American's South Africa investors open to improved BHP bid, FT reports
By: Reuters 10th May 2024 Anglo American's key South African shareholders are open to a takeover offer from BHP, with some advocating for an additional cash component to the bid, the Financial Times reported on Thursday. The investors who collectively hold more than 15% of Anglo American, told FT that BHP, the world's... →
Botswana vows to protect interests in potential BHP-Anglo deal
By: Bloomberg 9th May 2024 Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant De Beers, should BHP Group acquire Anglo American. Anglo, which rejected a BHP proposal valuing the mining company at about $39 billion, owns the other 85% of De Beers. Under... →
Brazil court rejects requests to block $15.7bn from Vale, BHP
By: Reuters 9th May 2024 A Brazilian federal court rejected a request made by the country's solicitor general's office asking that miners Vale, BHP and their joint venture Samarco pay 79.6-billion reais ($15.64-billion) for the 2015 collapse of a tailings dam. The request had been filed under a civil lawsuit in which... →
China's 2024 iron-ore imports seen similar to last year's - Vale
By: Reuters 9th May 2024 Imports of iron-ore by China, the world's biggest buyer, in 2024 are expected to be around 1.17-billion to 1.18-billion metric tons, similar to last year's 1.18-billion tons, a senior official of miner Vale said on Wednesday. "In the near term, we are still seeing strong resilience in the... →
Firebird advances feasibility of manganese sulphate production in China
By: Creamer Media Reporter 7th May 2024 Australia’s Firebird Metals has announced promising results from its feasibility study for the production of battery grade manganese sulphate in China. The study, focused on the first stage of production, uses third-party manganese ore and yielded “excellent” outcomes. The study, Firebird says,... →
Marula appoints young local professional as Larisoro mine manager
By: Marleny Arnoldi 7th May 2024 UK- and South Africa-listed Marula Mining has appointed local professional Benard Kiprotich as mine manager for the Larisoro manganese mine, in Kenya, which is managed by Marula’s wholly-owned subsidiary Muchai Mining Kenya. His appointment follows the company partnering with Kenyan manganese... →
South African unions urge Anglo shareholders to reject BHP bid
By: Bloomberg 7th May 2024 South Africa’s biggest labour union federation urged local shareholders, including the powerful Public Investment Corporation (PIC), to oppose BHP Group’s bid to buy Anglo American. The Congress of South African Trade Unions (Cosatu), which includes the National Union of Mineworkers (NUM) among... →
BHP insists Anglo American's South African assets must go in any takeover, sources say
By: Reuters 7th May 2024 BHP's plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed takeover and is expected to be a part of any revised offer, investors briefed on the miner's thinking said. The "Big Australian" was rebuffed by its smaller rival on April 26... →
Arrow’s Simandou North drilling off to a promising start
By: Mariaan Webb 7th May 2024 Australian junior Arrow Minerals as hit the ground running at its Simandou North deposit, in Guinea, uncovering high-grade mineralisation in the area during the initial stages of drilling. The first five holes, totalling 328 m of drilling, have yielded strong results, with assays including... →
Eastplats reports record revenue for 2023 financial year
By: Creamer Media Reporter 6th May 2024 JSE- and TSX-V-listed Eastern Platinum (Eastplats) has reported net income attributable to shareholders of $13.8-million for the 2023 financial year, compared with a loss of $900 000 for the 2022 financial year, mainly as a result of higher revenue. Revenue increased to a record $106.9-million,... →
Brazil wants Vale’s next CEO to have closer ties with government
By: Bloomberg 6th May 2024 Brazil expects the next CEO for Vale, the world’s second-largest iron ore producer, to have closer relations with officials and regulators even after public scrutiny over government influence on the company’s succession plan roiled a leadership search earlier this year. The government wants the... →
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
By: Bloomberg 6th May 2024 Two of BHP Group’s biggest rivals are sitting on the sidelines for the moment as they watch to see how a takeover offer for Anglo American will play out. Both Rio Tinto Group and Glencore are more focused on waiting for opportunities to snap up specific parts of Anglo’s business as BHP’s bid... →
Anglo CEO meets South Africa's mines minister after BHP's takeover proposal
By: Reuters 3rd May 2024 Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group's $39 billion takeover bid, a source familiar with the matter told Reuters. BHP, the world's biggest-listed mining group, is privately talking... →
What’s Anglo worth? For now it’s less than the sum of its parts
By: Bloomberg 3rd May 2024 As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and executives at rival producers: What’s Anglo American actually worth? Anglo’s shares are trading about 8% above the price implied by BHP’s initial proposal, which was swiftly and firmly... →
Glencore studying an approach for Anglo American, sources say
By: Reuters 3rd May 2024 Commodities group Glencore is studying an approach for Anglo American, two sources said, a development that could spark a bidding war for the 107-year old mining company. Glencore has not yet approached Anglo, one of the sources said. The discussions are internal and preliminary at this stage... →
Anglo bidder BHP intends maintaining long-standing JSE listing 
By: Martin Creamer 2nd May 2024 Diversified mining major BHP, which has made a rejected proposal to combine with Anglo American by way of a scheme of arrangement, confirmed on Thursday that it intended maintaining its multi-decade listing on the Johannesburg Stock Exchange (JSE). BHPalso emphasised that, under its Anglo... →
Chinese miners see opportunities as BHP’s mega bid unfolds
By: Bloomberg 2nd May 2024 China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP Group’s blockbuster $39-billion approach for rival Anglo American, potentially the largest mining deal in over a decade. The world’s top consumer of commodities including copper... →
Lower prices impact on Tshipi mine’s profitability in Q3, but operational performance intact
By: Marleny Arnoldi 2nd May 2024 Despite a 25% quarter-on-quarter and 11% year-on-year decrease in production in the quarter ended March 31, ASX-listed Jupiter Mines’ 49.9%-owned Tshipi é Ntle Manganese Mining subsidiary remains on track to achieve guided full-year volumes of between 3.3-million and 3.4-million tonnes of shipped... →
BHP woos South Africa in pursuit of $39bn Anglo takeover
By: Bloomberg 2nd May 2024 BHP Group has deployed a team of senior executives to South Africa as the world’s largest miner ramps up efforts to win over government officials, regulators and local shareholders, all of whom could yet determine the outcome of its proposed tie-up with rival Anglo American. The executives have... →
South Africa's Mineral Resources and Energy Minister Gwede Mantashe
Ironveld appoints Kristoffer Andersson CEO
By: Creamer Media Reporter 2nd May 2024 London-listed Ironveld, which owns a high-purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex, in Limpopo, South Africa, has appointed Kristoffer Andersson CEO. He succeeds Martin Eales, who stepped down as CEO in February. →
Anglo to meet top shareholders on BHP bid as takeover rules restrain AGM
By: Reuters 2nd May 2024 Anglo American's chair will meet its top 30 shareholders to hear views on BHP's $39-billion bid for the miner, he told an annual general meeting on Tuesday, where he was restricted from discussing the spurned offer by takeover regulations. Anglo rejected the offer on Friday, saying it was... →
Anglo American takeover price needs to surpass £30 a share, survey shows
By: Bloomberg 30th April 2024 A takeover of Anglo American would need to be pitched at more than £30 ($37.6) a share, a higher price than BHP Group offered last week, according to analysts and traders surveyed by Bloomberg. Anglo American shares are trading above the value of BHP’s rebuffed $39-billion takeover proposal, a... →
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