Copper prices have soared about 400 percent in the past 25 years and on Friday topped US$10,000 for the first time in two years. Photo: Emmet LIVINGSTONE / AFPBHP's multi-billion-dollar bid to buy rival Anglo American promises to be the largest mining merger deal in decades, and one driven by the race for cleaner energy and green metals.A ready conductor of heat and electricity, copper has long been used in wiring, piping, industrial machinery and roofing.
Copper prices have increased about 400 percent in the past quarter century, and broke US$10,000 a tonne on Friday for the first time in two years. In 2009 Xstrata -- now Glencore -- tried and failed to merge with Anglo American, whose investors at the time also argued the company was undervalued. "They don't really want most of it," said Bairstow."I'd argue probably the rest of the asset base would be potentially up for sale."The deal would give BHP control of key mines in Chile and Peru, and put it in charge of about 10 percent of world copper production. Photo: William WEST / AFPAnglo is more of a conglomerate than a single company, with some complex ownership structures.