Anglo American has turned down BHP's most recent acquisition offer, according to Bloomberg.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 23 2025
0mins
Anglo American's Decision: Anglo American has rejected BHP's latest acquisition proposal, determining it is not superior to their planned merger with Teck Resources.
Sources of Information: The information comes from sources familiar with the situation, as reported by Bloomberg journalists Aaron Kirchfeld, Thomas Biesheuvel, and Dinesh Nair.
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Analyst Views on BHP
Wall Street analysts forecast BHP stock price to fall
3 Analyst Rating
1 Buy
1 Hold
1 Sell
Hold
Current: 86.490
Low
49.50
Averages
56.50
High
68.00
Current: 86.490
Low
49.50
Averages
56.50
High
68.00
About BHP
BHP Group Limited is an Australia-based resources company. The Company is a producer of commodities, including iron ore, copper, nickel, potash and metallurgical (steelmaking) coal. It is focused on offering a range of resources, which provides copper for renewable energy; nickel for electric vehicles; potash for sustainable farming, and iron ore and metallurgical coal for the steel needed for global infrastructure and the energy transition. Its segments include Copper, Iron Ore, and Coal. Its Copper segment is engaged in mining of copper, silver, zinc, molybdenum, uranium, and gold. Its Iron Ore segment is engaged in mining of iron ore. Its Coal segment is engaged in mining of metallurgical coal and energy coal. The Company is also focused on operating Olympic Dam, Prominent Hill, and Carrapateena underground copper-gold mines in South Australia. Its operations are situated in Australia, Europe, China, Japan, India, South Korea, rest of Asia, North America, South America, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Significant Emission Reduction Potential: The project was estimated to cut Scope 3 emissions by 1.7 million metric tons annually, equivalent to approximately 75% of the total annual emissions from BHP's Western Australia iron ore division, and its cancellation poses a serious threat to the company's 2050 net-zero emissions goal.
- Unfulfilled Electrification Commitment: Despite pledging to electrify its fleet, BHP continues to acquire polluting diesel trucks, highlighting major challenges in its transition and potentially stalling progress on emission reductions.
- Renewable Energy Utilization: As of mid-2025, BHP has reduced emissions by 36% from its 2020 baseline and shifted 70% of its electricity use to renewable sources; however, the technologies needed for heavy equipment remain unavailable, limiting further emission reduction capabilities.
See More
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- Microcap Resilience: Landmark Bancorp's stock has gained 5.9% in the past six months, with a market cap of $170.37 million, benefiting from a diversified community banking franchise that enhances profitability, although it faces slight increases in delinquencies, credit quality remains manageable.
See More
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- Nickel and Cobalt Market Outlook: The demand for nickel and cobalt is surging due to the expansion of electric vehicles, battery storage systems, and renewable energy projects, with analysts projecting the global nickel market could exceed $60 billion in the coming years, indicating strong long-term growth potential.
- High-Grade Ore Analysis: First Atlantic Nickel Corp. has confirmed that the awaruite ore at its Pipestone XL project's RPM Zone contains 77.62% nickel and 1.69% cobalt, suggesting lower production costs and robust economic benefits for the project.
- Supply Security Trend: Governments are striving to reduce dependence on overseas critical mineral supply chains, driving new mining projects in politically stable regions like North America and Australia, which is attracting investor interest in high-grade nickel and cobalt deposits.
- Battery Metal Demand: As governments push for clean energy initiatives and automakers invest billions into EV production, demand forecasts for battery metals remain very bullish, prompting investors to closely monitor emerging nickel and cobalt exploration companies.
See More
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- Optimistic Market Outlook: The demand for nickel and cobalt is surging due to the global expansion of electric vehicles, battery storage systems, and renewable energy projects, with projections indicating that the nickel market could exceed $60 billion and the cobalt market could reach $20 billion in the coming years, highlighting strong long-term growth potential.
- High-Grade Ore Analysis: First Atlantic Nickel Corp. has confirmed that the awaruite ore at its Pipestone XL project's RPM Zone averages 77.62% nickel and 1.69% cobalt, indicating the company's capability to supply high-quality nickel-cobalt alloys to meet battery manufacturers' needs.
- Cost Production Advantage: Since awaruite does not require traditional smelting, roasting, or acid leaching processes, First Atlantic's ore can be directly used for battery refining and stainless steel production, thereby reducing production costs and enhancing economic viability, which strengthens its competitive position in the market.
- Strategic Partnership Opportunities: With the increasing demand for high-grade nickel and cobalt ores, First Atlantic Nickel is seeking to establish strategic partnerships with battery manufacturers and automakers to ensure future supply chain security, further solidifying its position in the market.
See More
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- Long-Term Growth Strategy: Incoming CEO Brandon Craig stated that BHP will seek to secure growth options beyond 2035 through increased exploration and potential 'bolt-on' acquisitions, indicating a clear vision for future development.
- Value-Driven Growth: At a Bank of America conference, Craig emphasized that BHP will focus on value rather than blind expansion, ensuring disciplined growth based on existing projects to enhance the company's market competitiveness.
- Strong Stock Performance: BHP shares have risen 50% year-to-date, reaching a record high of $90.91 in U.S. trading on Wednesday, reflecting positive market sentiment towards its long-term strategy.
- Optimized Market Positioning: Craig mentioned that BHP will seek partnerships with peers to unlock value in adjacent operations, further solidifying its leadership position in the global mining market and ensuring sustainable development for the future.
See More
