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Vol 65 No 12

Published 6th June 2024

South Africa

BHP's 'final' bid for Anglo set for election day

With $50 billion on the table, the biggest mining deal in history faces a wall of corporate and political obstacles

Given the stakes in jobs and economic growth, it's fitting that the deadline for the offer by Australia's BHP for Anglo American should fall on 29 May, election day in South Africa. It highlights the political factors weighing on both companies as they bargain over the terms of a merger that would take Anglo American out of South Africa. If the two companies reach a deal, the merger would be the biggest in mining history and subject to intense scrutiny by South Africa's government. As jobs are cut and investment shrinks, mining companies have become a political target in South Africa.

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