Mike Henry, CEO of Australian mining company BHP, standing beside a photograph of the company’s Jansen potash project, located in Saskatchewan, Canada, is photographed on Oct 17, 2023.The Canadian head of BHP Group Ltd. says the world’s biggest mining company will remain disciplined as it chases an acquisition of struggling competitor Anglo American PLC, as concerns arise about the complexity and timelines around its US$43-billion proposal.
“We have a very, very hard-won reputation for discipline when it comes to capital allocation and we do not take that lightly,” he said. Anglo CEO Duncan Wanblad in a statement said that “a radically simpler business” will result in better operational performance and drive down costs. Anglo is urging shareholders to back its plan, after it rejected on Monday a second takeover proposal from BHP that was about 15 per cent higher than its original approach.
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