Streetbeat News

KIROY

Kumba Iron Ore Ltd.

https://www.angloamericankumba.com/

CEO

Themba Mkhwanazi

Industry

Iron and Steel Mills and Ferroalloy Manufacturing

Open

6.62

Mkt cap

6.4B

Volume

500

High

6.64

P/E Ratio

8.20

52-wk high

10.15

Low

6.62

Div yield

0.12

52-wk low

5.57

RBC Capital Markets analyst Marina Calero suggests a Glencore (OTC:GLNCY) and Anglo American (OTC:NGLOY) merger would offer more synergies than BHP Group's (NYSE:BHP) $39 billion offer for Anglo American. The potential Glencore-Anglo merger could leverage closer asset proximity and marketing synergies, particularly in copper and coal sectors. Anglo American rejected BHP's offer, citing it as too low and unattractive due to conditions requiring divestitures of Anglo American Platinum Ltd. (OTC:ANGPY) and Kumba Iron Ore Ltd. (OTC:KIROY). A Glencore-Anglo merger might retain these assets, offering a strategic advantage.

Portfolio Pulse from Matt Whittaker

May 03, 2024 | 5:46 pm

BHP Group's nearly $40 billion bid for Anglo American may spark a bidding war for the copper-rich company, as demand for copper surges with the global shift towards clean energy. BHP's offer, seen as low by analysts, could lead to higher bids from rivals like Glencore, Vale, and Rio Tinto. The deal highlights the increasing value of copper assets amid a global scramble for resources essential to the clean energy transition.

Portfolio Pulse from Matt Whittaker

April 25, 2024 | 9:53 pm

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