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The strong and growing demand for copper traditional markets, as well as demand from the transition of energy away from fossil fuels is the center of 50 billion dollars of two large mining companies and could be a spark for even greater copper bacar.
Canadian resources from Teck and London, but South African Anglo American agreed on merging equal years after they circle each other.
The copper cable is in the heart of the connection of Teck and Anglo American. Photo: Denis Charlet AFP via Getty Images.
AFP via Getty Images
Connection will see current shareholders in Teck, which appear with 37.6% of new business, while Anglo shareholders will have 62.4% of interest, as well as receiving a special dividend in the amount of $ 4.5 billion ($ 4.19 per share).
The key of the agreement is a pair of neighboring copper mines, Collahuasi and Kuebrada Blanc, high in the mountains, which, when it was operated in Tandem, should generate an annual $ 1.4 billion in additional earnings for the pre-tax.
The new job called Anglo Teck will appear from the agreement expected to bring 12 to 18 months. There will be a seat in the Canadian city of Vancouver.
70% of copper earnings
It is estimated that 70% of future earnings will come from existing copper assets with available growth options, Teck and Anglo said in a joint statement.
Two companies said their joined work will have a strong balance “submitted a large, diversified flow base and cash flow, including premium iron or zinc”.
During the last three years and Teck and Anglo have taken the goals for their mining rivals, Australian BHP and Swiss Glencore. He also circulates, but more interested in the agreement with Glencore is Rio Tinto based in London.
The creation of Anglo Teck could be a spark of Glencor and Rio Tinto to restart their negotiations and that BHP has reinforced his copper expansion agreements.
The ore trucks in the wilderness of the Atacama North Chile.
Getty
Anglo Teck’s combined copper output is expected about 1.2 million metric tons per year, approximately the same as miner freeport-mcmoran, slightly less than state-owned Chile and the last BHP 2M / s.
Hurry up to the connection of copper growing 35% in the last three years to last three years in the international market in the international market and more in the United States, when the threat of tariffs caused a rush of American metal consumers.
It is used extensively in electricity production, construction and transport, copper also appeared as a critical metal in energy transition and storage of electricity battery.
Copper haste has seen all major metal producers simplified its operations, going out in coal, nickel and other brands to increase complaint with investors as copper supplies.
Connecting to Teck will almost certainly be the main move in removing from any plans by BHP to return BHP with a fresh offer for Anglo American.
More funds for sale
He also buys Anglo American more time to complete the restructuring of property, but now is for sale of coal mines, and attempts to sell the main stake in De Bees Diamond BUSINESS, and in the color of the congenital share in laboratory languages.
Complex regulatory and legal requirements are unlikely that the second bidder will enter the Teck or Anglo ring, leaving them to complete the creation of a large new mining job.
Duncan Vanblad, Executive Director of Angla, will take over the top job and Anglo Teck while Teck’s executive statement of Jonathan will be his deputy.
