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
$40.33 |
Change
-0.440(1.08%) |
Mkt cap ! $204.6B |
Open | High | Low | Value | Volume |
$40.72 | $40.76 | $40.25 | $183.5M | 4.541M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 700 | $40.31 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$40.33 | 5116 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 700 | 40.310 |
2 | 700 | 40.300 |
1 | 1000 | 40.280 |
2 | 3234 | 40.260 |
22 | 6538 | 40.250 |
Price($) | Vol. | No. |
---|---|---|
40.330 | 5116 | 2 |
40.340 | 13426 | 1 |
40.350 | 13423 | 1 |
40.360 | 22614 | 2 |
40.370 | 13141 | 1 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
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BHP (ASX) Chart |