Anglo American has copper, and lot of it, so the company’s days are numbered as bidders circle
about five years ago. BHP coveted only Anglo’s copper, and was put off by the prospect of dismantling a highly complex company to nail the prize. So it passed.
The reason? Decarbonization cannot happen without copper. It is considered the miracle metal for a low-carbon future. Copper is a superb conductor of electricity, is ductile , conducts heat well and does not corrode like steel., powered by what are essentially fat sewing-machine motors, requires more than five times as much copper than a regular car. EV charging stations, wind turbines, solar panels and batteries of every description need big amounts of copper.
require desalinization plants, whose construction costs can exceed US$1-billion. The upshot is that buying existing copper mines, or companies that own them, is often seen as the fastest, cheapest route to boosting production. Rio Tinto is certainly a potential candidate for Anglo, though its boss, Jakob Stausholm, seems to be taking a conservative approach to expanding the company and may be in no mood for a potentially costly and nasty bidding war. Vale, the Brazilian iron ore giant that took over Canada’s Inco
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