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Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group’s BHP, the world’s biggest-listed mining group, is privately talking to investors as it weighs up its next move after Anglo’s rejection of its initial proposal.The source did not give details of the meeting.
Anglo unanimously rejected the proposal as opportunistic and significantly undervaluing the company and its future prospects. There is a risk that South African regulatory authorities, particularly its central bank, could be concerned about capital outflows from foreign investors not willing to hold the shares, the source said.
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