Anglo American has suffered a major setback over plans to sell its steelmaking coal business after one of its mines in Australia was hit by a fire, which will halt output for months. Shares in the group fell as much as 4 per cent when the London market opened on Monday as investors digested more problems for the FTSE 100 mining group.
70 before Wanblad took over but above lows of £17 following a disastrous production forecast downgrade in December. The company has been hit with three production downgrades since Wanblad took over as boss in April 2022, leading to an underperforming share price and speculation about the group’s future. BHP, whose final bid was £31.11 per share, must wait for six months since it walked away at the end of May or a bid from a rival before it can make another approach for Anglo.