PERTH - BHP's bid for Anglo American underlines the growing appetite for energy transition metals like copper from miners who must become more aggressive to secure new projects or risk missing out, investors and mining CEOs said on Wednesday.
Anglo has twice rejected overtures by BHP, whose deadline to make a third offer expires later on Wednesday. Instead, Anglo has pledged to break up its company to lower costs. Beatty said he had faced internal questions over whether RCF had overpaid for the 11.9% stake in Botswana's Khoemecau copper mine that it bought for $70 million in 2019.
Given that lithium prices have begun to recover from rock bottom lows, for companies with the funding, now is a good time to buy, said Joshua Thurlow, head of lithium at Australian diversified miner Mineral Resources."M&A's on people’s minds. It’s at that point in the cycle. If you can be counter cyclical ... you could argue this is a good time to do it," he told Reuters.
“As we continue to look around the goldfield and more prospective areas we will continue to make deals if and when possible," he added. "For us we are trying to see beyond the next 6-12 months to the next 10-15 years," CEO Luca Giacovazzi said.