The big prize for BHP appears to be Anglo American’s copper mines, but it is unclear what other assets would form part of the deal given BHP’s move to exit coal and uncertainty over the future of its Australian nickel operations.
BHP chief executive Mike Henry has made no secret of the company’s desire to bet big on copper, warning last year that there was a $300 billion shortfall in investment in a commodity essential to the electrification of the global economy.
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