“Anglo American is well positioned to create significant value from its portfolio of high-quality assets that are well aligned with the energy transition and other important demand trends. With copper accounting for 30% of Anglo American’s total production and with the benefit of well-sequenced, value-accretive growth options in copper and other structurally attractive commodities, the board believes that Anglo American shareholders will benefit from what we expect will be significant value appreciation as the full impact materializes of these trends,” commented Anglo American president Stuart Chambers.
Stuart defines BHP’s proposal as “opportunistic” and unable “to enhance Anglo American’s prospects”. “The proposed structure is also highly unattractive, creating substantial uncertainty and execution risk borne almost entirely by Anglo American, its shareholders and other stakeholders” while Anglo American “has defined clear strategic priorities – of operational excellence, portfolio and growth – to achieve its full value potential and is entirely focused on that outcome.”
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