SOUTH32 LTD SPNS/ADR

Diversified miners Glencore (OTC:GLNCY) and Anglo American (OTC:NGLOY) offer a better match than that proposed in BHP Group‘s (NYSE:BHP) offer for Anglo, RBC Capital Markets analyst Marina Calero said in a note to clients on Friday. Last week, Australia-headquartered BHP said it had made a $39 billion offer for London-based Anglo, which swiftly rejected the proposal as too low. This week, Reuters reported that Glencore, which is based in Switzerland, is considering a bid for the UK miner. "We see the potential for a GLEN/AAL combination to have higher synergies vs. BHP/AAL given the closer proximity of the assets and the potential synergies for GLEN’s marketing division," Calero said. Also Read: Copper Is A Hot Commodity: Bidding War for Anglo American May Emerge After BHP’s ‘Low Ball’ Offer — ‘Let The Games Begin’ Copper assets are at the heart of both companies' interest in Anglo as the red metal is a key component of electric vehicles and renewable energy installations, demand for which is accelerating as nations around the world transition away from fossil fuels. All three diversified miners are also involved in coal. "Mining synergies would largely come from the South American copper division and the Australian coal assets," Calero said. In ...Full story available on Benzinga.com

Related tickers: BHP, GLNCY, KIROY, SOUHY, NGLOY, ANGPY.

The mining industry and state of Alaska slammed the Biden administration's reported plan to block a controversial access road to a mining district, saying such a move is politically motivated, illegal and at odds with the need for domestic sources of key minerals. In an environmental analysis due this week, the Interior Department planned to issue a "no action" recommendation for the proposed Ambler Road project, effectively blocking the 211-mile artery that would connect an existing highway to a remote area in northwestern Alaska where mining companies want to explore for copper and other minerals, according to media reports. Such a decision would hand a victory to environmentalists who said the road threatens pristine Arctic habitat for caribou and fish and endangers drinking water for native tribes and rural communities. But copper is a key mineral needed to build renewable energy sources to help combat climate change, which also threatens the Arctic. The tension underscored the sometimes conflicting environmental goals of the Biden administration in an election year while also pitting native groups against each other. Alaska Says Decision Would Violate Law An executive with Ambler Metals — a joint venture between Canada-based Trilogy Metals Inc. (NYSEAMERICAN: TMQ) and Australia-headquartered South32 (OTC:SOUHY) that was exploring the mining district — said the company was "stunned" to hear that the Interior Department's Bureau of Land Management (BLM) was planning to deny the access project. "We strongly urge BLM to reconsider what would clearly be an unlawful and politically motivated decision that goes well beyond the narrow set of issues the courts agreed to allow the agency to address," Kaleb Froehlich, managing director of Ambler Metals, said in a statement. Also Read: Energy Transition Metals At Stake: Potential US Mining Law Update Pits ...Full story available on Benzinga.com

Related tickers: SOUHY, TMQ, AKEMF, VMXXF.