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BHP has spent the last ten years simplifying their asset base only to buy one of the most complex portfolios in the industry.

BHP’s mega bid for Anglo sets stage for industry shakeup

Published: 25 Apr 24

Australia-headquartered BHP has made a bold move with its bid to acquire rival Anglo American in an all-share deal valued at $38.8-billion. With this manoeuvre, BHP aims to create the largest copper miner globally, but it could face scrutiny from Anglo shareholders over valuation concerns. Commenting on the proposed deal, Wood Mackenzie mining and metals corporate research director James Whiteside remarked that the transaction would represent the biggest shakeup of the global mining industry in more than a decade.

Anglo American share price shows traders want a sweeter bid

Published: 25 Apr 24

Traders are pushing Anglo American Plc shares above the value of BHP Group’s takeover proposal, a sign they expect a higher bid from the suitor or an interloper. BHP’s proposal, which values the target at £31.1-billion ($38.9-billion), has several moving parts — it calls for Anglo shareholders to receive BHP shares, plus stock in two listed Anglo units that would be spun off.

Electrical specialist says load curtailment in Ekurhuleni should be respected, or more outages may ensue

Published: 25 Apr 24

With the City of Ekurhuleni having entered into a load curtailment agreement with national power utility Eskom, this mandatory energy reduction has been met with some protest by businesses, but electrical control equipment provider CBI-electric:low voltage engineering executive Dr Andrew Dickson says the alternative is worse. Eskom took over control of loadshedding in Ekurhuleni in March, after the city reportedly failed to execute power outages when required. The metro had since negotiated a load curtailment agreement with Eskom, which requires that businesses reduce their electricity consumption by 30%.

Vale sees no impact from BHP-Anglo American deal on Minas-Rio project

Published: 25 Apr 24

Brazilian miner Vale sees no impact from BHP Group's bid for Anglo American on the latter's Minas-Rio project, its CEO, Eduardo Bartolomeu, said on Thursday. "We don't see any impact on the Minas-Rio deal. It's being done, of course, by Anglo and will be respected by whoever comes after, if they come after," said the CEO, during a conference call with analysts on the firm's first-quarter results.

Mineral Resources and Energy Minister Gwede Mantashe

Mantashe signals opposition to BHP-Anglo deal

Published: 25 Apr 24

South African Mines Minister Gwede Mantashe signaled his opposition to BHP Group Ltd.’s proposed takeover of Anglo American. The offer by the world’s largest miner envisages an all-share deal in which Anglo American would first spin off controlling stakes in South African platinum and iron-ore companies to its shareholders before being acquired by BHP. The proposal values Anglo American at £31.1-billion ($38.8-billion)

Tribunal approves Vitol’s buyout of Engen

Published: 25 Apr 24

The Competition Tribunal has approved the proposed acquisition of petrol station brand Engen by independent energy marketing and trading company Vitol Emerald, subject to a set of competition and public interest conditions. The tribunal’s order follows a hearing last month during which it heard submissions from the Competition Commission, the merging parties, the Department of Trade, Industry and Competition (dtic), Sasol South Africa, Astron Energy South Africa, the National Union of Metalworkers of South Africa, and the Chemical, Energy, Paper Printing, Wood and Allied Workers Union. Following the hearing, the tribunal requested additional submissions from the commission, the merging parties, Sasol and Astron Energy. MERGING PARTIES Vitol supplies and distributes crude oil, petroleum products and natural gas globally.

Solar rental firm begins testing roll-out model for underserved communities

Published: 25 Apr 24

Local solar-as-a-subscription service provider Wetility is deploying a rooftop solar solution in a lower-income community as part of a proof-of-concept study to firm up the feasibility of extending the offering to other underserved areas. COO Franta Pour tells Engineering News that the company’s current focus is on the provision of bundled solar-battery rental solutions to more affluent households and small and medium-sized businesses, where attention is shifting progressively from security of supply to electricity bill savings.

Hummingbird’s first-quarter performance impacted by contractual dispute at Kouroussa

Published: 25 Apr 24

Despite what its CEO Dan Betts deemed a challenging quarter, Aim-listed Hummingbird Resources delivered an 18% quarter-on-quarter increase in gold production at just under 17 000 oz from the Yanfolila mine, in Mali, in the quarter ended March 31. This while the Kouroussa project, in Guinea, produced 5 868 oz of gold. The newly commissioned mine experienced disrupted operations in January owing to a fire at a fuel depot, with fuel deliveries having resumed later in the month.

Image of the MAN Lion’s Explorer E electric bus

‘No operational issues’ as Golden Arrow tests electric Explorer bus

Published: 25 Apr 24

Golden Arrow Bus Services (GABS) says it will probably make a final decision in the third or fourth quarter of this year on whether it will acquire any Lion’s Explorer E electric buses from MAN Truck & Bus South Africa (MAN SA). MAN SA in September provided GABS with its first Lion’s Explorer E electric bus for test purposes.

Africa has to get involved in carbon markets

Published: 25 Apr 24

The oil and gas industry is evolving, and has to, highlighted commodities trading and risk management company Ion Commodities VP product strategy Lance Fogtman, in a panel discussion at the 2024 African Refiners and Distributors Association conference, in Cape Town. He reviewed a particular aspect of the global markets for the energy transition – the carbon market. Or, rather, the carbon markets, as there were currently multiple such markets in the world. There was no single global carbon market, and he doubted that there would ever be one. But the important thing about all the current carbon markets was that they put a price on carbon.