I think they want a stronger position to take full advantage of the growth aspect. They are going to need to look elsewhere. As others have stated, there's just not a lot in Australia that meets their size requirement.
They passed on kalkaroo because of size, Caravel is pretty big but low grade so I dunno if they would want that and I can't really think of much more that would even get close to being on their radar.
There are a few really nice copper juniors out there with great deposits but they are small...
Ann: Update on BHP offer for Anglo American, page-38
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