The Latest Breaking News from Anglo American

After knocking back a BHP takeover bid, Anglo American is set to sell its Australian coal mines and use funds to reset the multinational's balance sheet.

Rejig is more radical than anything Anglo has tried in recent past but Australian miner could make fresh bid

Complex proposal will need to be backed by a bigger figure to put board under real pressure

Australian mining giant BHP revealed Monday that British rival Anglo American has rejected an "improved" takeover bid worth GBP34 billion ($43 billion) as it aims to create a copper titan.

Anglo American turns down BHP's .7 billion offer, signaling disinterest in merger. Both remain key players.

Australian company says FTSE 100-listed group’s board did not engage with its all-share approach

But such a takeover of London-listed mining firm opposed by politicians and unions in South Africa

Glencore understood to be considering takeover offer while BHP could move again after initial rejection

Producers all want to increase copper output to take advantage of rising demand in EVs, grid infrastructure and data centers - but that bullishness isn’t translating into the huge investments needed to develop new mines. Thus, the start of a bidding war for Anglo American.