News about Anglo American

Anglo American CEO Duncan Wanblad said the miner has held talks with technology companies that want either long-term offtake agreements or equity stakes to secure metals used in data centres, though no stakes have been taken yet. Comex copper for December delivery fell for a third straight session to about $6.52 a pound after stronger-than-expected US inflation revived the prospect of a Federal Reserve rate hike this month. Anglo's market value stands at $58.0 billion and Teck's at $31.9 billion, which would put the combined Anglo-Teck at just under $90 billion, up from $53 billion when the merger was announced. The merger still awaits final clearance from China, which has asked for a steady flow of copper concentrate to Chinese smelters, while Canada, the EU, the US, Japan, Chile and South Korea have approved it and the companies expect to close by March 2027. Anglo may also shut its Brazilian nickel business if the EU blocks the planned $500 million sale to China's MMG, while the company is seeking about $1 billion for De Beers.