Major mining companies are intensifying their search for new deals and projects.
Reuters states that discussions are at an early stage, and there is no guarantee the companies will proceed with a bid.
Filo’s market cap stands at US$2.52 billion. A potential merger between Lundin’s Josemaria project and Filo’s Filo del Sol project is under consideration, with the cost of combining infrastructure estimated at US$5 billion to US$8 billion.
Through its unsuccessful bid for Anglo American, BHP was aiming to secure the company’s copper assets in Latin America. Copper is key metal for the global shift toward clean energy and electric vehicles.
The deal collapsed due to structural complexities and regulatory risks, particularly in South Africa. BHP’s offer required Anglo American to divest its South African platinum and iron ore businesses, which the latter deemed too risky.
This M&A activity highlights the growing preference among major miners to acquire rather than develop new assets.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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