BHP ends pursuit of Anglo for now, FT reports
According to the FT sources, the deal has become "too expensive" for BHP to pursue given the rise in Anglo American’s stock price in recent months.
Chilean mining giant Codelco is still working to meet its estimated output for the second quarter, CEO Ruben Alvarado told Reuters, as the state-run copper miner is pushing to boost production up from its lowest in 25 years.
Alvarado said that a recent rise in copper prices is a positive sign, adding that any improvements would benefit Codelco’s finances, but said that Codelco must wait to see if they remain stable.
(By Fabian Cambero; Editing by Sarah Morland)
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