Money of Mine Why BHP Will Return for Anglo (Again)
9 snips
Nov 25, 2025 The podcast dives into BHP's renewed bid for Anglo, exploring the valuation intricacies and potential synergies involved. It also covers the lithium market's surprising revival, discussing stock dynamics and factors driving the rally. The hosts share insights from AGM visits, highlighting MinRes's strong financials and governance issues at Deep Yellow. They also speculate on merger opportunities between Genesis and Vault, emphasizing how sentiment plays a crucial role in mining stock valuations.
AI Snips
Chapters
Transcript
Episode notes
Buying Copper Beats Costly Organic Growth
- BHP sees Anglo's copper as quicker, cleaner and less risky than costly organic growth.
- Jonas Dorling argues buying Anglo's copper is a rational shortcut versus expensive brownfields expansion.
Organic Copper Growth Is Extremely Expensive
- BHP's own deck shows brownfields copper growth costs roughly $30,000 per incremental tonne.
- Those costs have risen ~65% in real terms, making organic expansion capital intensive and risky.
Prepare For BHP To Re-Engage
- Expect BHP to return and be prepared for them to pay a premium for Anglo's assets.
- Investors should watch for renewed shareholder pressure and follow-up bids within months.