Platinum, palladium, rhodium prices seen down in 2024 despite deficit, Metals Focus says

Anglo American stated that the new offer was "highly unattractive" for its shareholders.

Demand for the metal in autocatalyst is expected to rise about 2% for the whole year.

Sibanye CEO Neal Froneman said in the update that declining earnings could impact the company's debt covenants.

The investors, who collectively hold more than 15% of Anglo American, told FT that BHP would need to sweeten its offer.

BHP’s proposal includes a plan for Anglo to spin off its Johannesburg-listed platinum and iron ore units before an eventual takeover.

The combined indicated open pit resources increased by 12.4 million tonnes or 37% to 46.2 million tonnes.

South African officials have so far given BHP’s proposal a mixed reception.

The bank allegedly violated antitrust laws by conspiring to manipulate a benchmark for physical platinum and palladium prices.

CEO Duncan Wanblad is meeting minister Gwede Mantashe for the first time since rejecting BHP's $39bn takeover bid last week.