Gosh Ferrium. DeGrussa is depleted and closed. SFR is now operating the Cu Zn Matsa mining complex in Spain and Cu Ag Motheo in Botswana. Both have significant upside. Perhaps they are Tier 2 operations, yet the team there is committed to improving efficiency at Matsa and Motheo has just begun production so it is too soon to judge its quality, let alone dismiss it.
BHP wants AAL for its Cu AND the Woodsmith Potash project. BHP's Jansen project will produce Muriate of Potash or Potassium Chloride. The Woodsmith resource is Sulphate of Potash or Potassium Sulphate, a premium product. Woodsmith is very large and technically challenging. Information about it is scanty. I have no idea what it is worth, though BHP definitely wants it to compliment Jansen.
BHP would on-sell AAL's met coal operations. Yes, the Bowen Basin is world best quality, but BHP wants out. Personal opinions about climate change are irrelevant. There are plenty of ASX listed coal miners for those with strong views.
AAL has rejected BHP's initial offer - they always do in Round One.
Ash
Ann: Response to announcement by Anglo American plc, page-93
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