BHP's $39 billion bid will be the elephant in the room at Anglo American's Tuesday annual general meeting.

Freeport Indonesia's chief executive has previously said that it may have to slash copper ore output by 40% this year.

Its Tenke Fungurume site added new mining capacity in March, lifting annual capacity to 450,000 tons of copper and 37,000 tons of cobalt.

BHP is considering making an improved offer, Reuters sources said during the weekend.

Vedanta is trying to raise about $1.4 billion in total for Konkola.

The stake divestment by Vale Indonesia's foreign partners was a condition required for the new permit.

The biggest producers all want to increase copper output to take advantage of rising demand for electric vehicles, grid infrastructure and data centers.