Today
Indonesian billionaires dig into Australian coal mines
Indonesian conglomerates have ploughed more than $3 billion on coal mining projects in NSW and Queensland since 2016, records show.
- 23 mins ago
- Elouise Fowler
May
GYG heads for ASX | The winner in failed Anglo bid | Invest like a Rich Lister
This week on the Chanticleer podcast, James and Anthony look at Guzman y Gomez’s IPO plans, try to find the winner in BHP’s failed bid for Anglo American, and show you how to invest like a Rich Lister.
Anglo boss doesn’t want talks with BHP, or anyone else
Duncan Wanblad hopes for space to “crack on” with his radical simplification strategy, and says more bidders for Anglo’s Queensland coal assets are coming forward.
- Hans van Leeuwen
- Opinion
- Mining
Why BHP’s pursuit of hot copper went cold
The red metal is the new black. A rebuffed BHP has gone back to the drawing board to plot its next move after Anglo American rejected its request for more time.
- Jennifer Hewett
Magistrate to decide if alleged Kidman insider trader faces trial
A magistrate will decide next week if Duncan Stewart will face a criminal trial for allegedly buying shares in lithium miner Kidman Resources with inside information.
- Elouise Fowler
BHP turns inward after $75b Anglo rebuff
BHP will take investors to see growth projects in Chile to assure them it does not need a big copper acquisition like its failed $75b bid for Anglo American.
- Peter Ker
- Opinion
- Chanticleer
A Takeovers Panel application before a deal? It’s a jolt for Rio
You can bet Rio Tinto doesn’t like being pushed around by some pipsqueak fund managers, but there’s a lot riding on this bombshell move.
- Anthony Macdonald
- Opinion
- Chanticleer
Inside BHP’s failed tilt for Anglo – and what comes next
The post-mortems are under way, but two things are already clear: the tight time frame was never going to be enough, and BHP’s inability to win over Anglo shareholders eventually killed the deal.
- Updated
- James Thomson
Inside BHP’s failed Anglo bid | Beef ban lifted | Is Macquarie to blame for UK’s big stink?
Read everything that’s happened in the news so far today.
BHP abandons $75b bid after Anglo refuses more talks
With less than an hour before a 2am deadline, BHP issued a statement saying it would not make a firm offer, putting any bids on ice for at least six months.
- Updated
- Thomas Biesheuvel
- Opinion
- Chanticleer
BHP has lost its Anglo prize, but kept its head
BHP’s decision to go public with its pitch to solve Anglo American’s South African problems was a move designed to win an extension between the two mining giants. It failed.
- Updated
- James Thomson
- Updated
- Mergers & acquisitions
BHP’s $75b Anglo mega deal on ice
Anglo American has rejected BHP’s request for more time to negotiate a $75 billion takeover offer, meaning the deal is off for at least six months, unless BHP lobs a formal bid by 2am. BHP is unlikely to make a bid before the deadline.
- Updated
- Peter Ker
Kidman Resources boss ‘likely’ source of insider information, court hears
The corporate cop claims Martin Donohue “is the most likely source” of inside information relied on by his brother-in-law Duncan Stewart to buy shares in the firm.
- Elouise Fowler
It goes to Rio: Monash Uni replaces Simon McKeon with Megan Clark
Australia’s largest university has replaced its chancellor, an ex-Rio Tinto director, with … an ex-Rio Tinto director. What are the odds?
- Updated
- Myriam Robin
Ramelius approached Westgold for $3b-plus gold merger
While neither of the ASX-listed companies disclosed the deal discussions, Wednesday morning’s Takeover Panels application all but confirmed the status quo.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Market speculation may justify share buys: ASIC insider trading case
Duncan Stewart is charged with buying Kidman shares in April 2019 while aware that Wesfarmers had made a proposal to buy the company.
- Elouise Fowler
- Opinion
- Chanticleer
Headaches are part of mining M&A, just ask Newmont
It should be a good time to sell a copper/gold project, but Newmont’s portfolio tidy-up has hit a hurdle.
- Anthony Macdonald
Mining communication biz NLT Digital Solutions seeks buyer
The sell-side pitch highlights NLT’s unique intellectual property and R&D capability, strong customer retention and global distribution capability.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Australian Gold and Copper in $11m equity raise
Majority shareholder Delin Mining Group would take top-up to retain its 55 per cent stake, potential investors were told.
- Sarah Thompson, Kanika Sood and Emma Rapaport
China-linked entity ousts WA rare earths boss
Northern Minerals’ new executive chairman said the resignation of Nick Curtis created an “alignment” between shareholders and the board.
- Elouise Fowler
