Australia’s BHP said on Wednesday afternoon that it had been unable to reach an agreement with the rival miner over specific issues.
A potential mining mega-merger has been stopped in its tracks after BHP confirmed it would not be making a bid for Anglo American.
Mr Henry was referring to BHP’s requirement, in its takeover approaches, for its rival to spin off its South African operations, resulting in heavy criticism from the government in Pretoria.Mr Henry added: “We remain of the view that our proposal was the most effective structure to deliver value for Anglo American shareholders, and we are confident that, working together with Anglo American, we could have obtained all required regulatory approvals, including in South Africa.
“Our shareholders will benefit from value transparency and undiluted exposure to a simpler portfolio of world-class assets, consistently stronger operational performance, and highly attractive growth in copper, premium iron ore and crop nutrients.” A mega-merger between the two companies would have created the biggest copper miner in the world, with 10% of global output.
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