Lure of Anglo’s copper mines could test BHP’s spending resolve
BHP needs to offer at least a 40% premium over Anglo's share price for a new takeover bid, but its CEO has committed to spending discipline.
The US$89 million shares-and-cash acquisition of Estonia’s AS Silmet by Colorado’s Molycorp means both rare earth companies “will be able to take advantage of the very robust price situation in the market right now,” Molycorp CEO Mark Smith said during a conference call with analysts Monday.
