I suspect part of this strategy is to diversify away from Australia with a copper growth story elsewhere. The IR laws could stop the expansion of the South Australian copper hub which includes Oak Dam. Use the Anglo asset expansions in South America as a bargaining chip to say change those IR laws or we invest $10s of billions in South America, not Australia. A trump presidency will also likely see RIO/BHP JV at resolution in Arizona get approved. That deposit is far superior to anything, I believe it’s the highest grade large scale deposit in the world that hasn’t been developed.
If copper price permanently rerates above $5 a pound then the Anglo deal makes sense. A lot of analysts have long term assumptions at low to mid $4s, hence questioning BHPs move. Hence BHP must be modelling in much higher prices. Synergies… well we know coking coal assets would. South American copper should have some. Brazilian iron ore - high grade makes sense too. Everything else is junk in Anglo.
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Last
$42.10 |
Change
0.910(2.21%) |
Mkt cap ! $213.5B |
Open | High | Low | Value | Volume |
$41.88 | $42.29 | $41.69 | $360.3M | 8.529M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 9922 | $42.09 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$42.12 | 11345 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 178 | 42.090 |
1 | 150 | 42.080 |
1 | 474 | 42.050 |
1 | 505 | 42.030 |
17 | 4004 | 42.000 |
Price($) | Vol. | No. |
---|---|---|
42.160 | 1000 | 1 |
42.180 | 298 | 1 |
42.200 | 1000 | 1 |
42.220 | 100 | 1 |
42.230 | 168 | 1 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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