BHP(US:BHP) Zhi Tong Cai Jing·2025-11-24 01:05Core Viewpoint - BHP Group has announced that it will no longer pursue a merger with Anglo American Plc, marking a significant shift in its strategic direction [1] Group 1: Merger Decision - BHP stated that it is no longer advancing the merger discussions with Anglo American, which had previously received a merger proposal from BHP [1] - The decision comes less than three weeks before a vote by Anglo American's shareholders regarding a merger with Teck Resources [1] Group 2: Industry Context - The proposed merger aimed to create a new copper giant valued at over $60 billion, reflecting the ongoing trend of consolidation among major mining companies driven by the demand for copper [1] - Copper is increasingly recognized for its critical role in the electrification process, prompting mining companies to expand their copper operations [1] Group 3: BHP's Future Plans - In early October, BHP announced an investment of AUD 840 million (approximately USD 554 million) to expand its Olympic Dam underground copper mine in South Australia to increase copper production [1] - BHP anticipates a 70% increase in global copper demand by 2050 and has identified copper as a core growth business [1] - Over the next decade, BHP plans to invest over USD 10 billion in expanding its project portfolio in Chile, along with additional investments in Argentina and the United States to develop new mines [1]