Top deals in the global mining sector (April 25)
Reuters
Published Apr 25, 2024 23:24
Updated Apr 26, 2024 17:50
(Corrects APRIL 25 Factbox to show Nippon Steel-U.S Steel is a proposed deal awaiting regulatory approval, bullet point 4)
(Reuters) -BHP Group has bid $38.8 billion for smaller rival Anglo American (JO:AGLJ), offering a deal to forge the world's biggest copper miner.
Here is a list of some previous big-ticket deals in the mining sector:
- 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 (LON:GLEN) 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 proposed to buy U.S. Steel late last year in a $14.1 billion deal which is awaiting regulatory approval and expected to close in the second or third quarter of this year.
- Whitehaven Coal (ASX:WHC) last year bought mining giant BHP (ASX: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 (ASX:RIO) 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 (LON:RRS) 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.
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- 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.
Source: Company Statements and Reports
Written By: Reuters
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