Ann: Australia Manganese Update, page-128

Agree, Dan.

AAL looks to be executing the game-plan outlined by BHP in its conditional takeover offer.

The 'crumbs' from the dismemberment of AAL available to S32 look like the Manganese JV and perhaps the Brazilian nickel mines, which produce ~19,500tpa and are wilting under intense price pressure from new Indonesian production.

In between approaches and in a bid to stay independent, Anglo laid out its own radical plan to shrink by divesting its steelmaking coal assets, demerging its South African platinum unit, possibly mothballing its nickel mines and selling or demerging diamonds business De Beers. It also said it would slow down work at its fertiliser project in northern England. "We are now starting the formal processes for the divestment or the demergers of these businesses," Wanblad told Reuters.

https://www.reuters.com/markets/commodities/anglo-starts-formal-divestment-coal-nickel-after-rebuffing-bhp-ceo-says-2024-05-30/

I have no idea whether GK & team are interested in AAL's Brazil nickel operations. The assets would be cheap, might be worthless.

Does anyone have knowledge or an opinion?

Ash