Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM team. On Tuesday you said "if BHP is successful with its $60bn bid for Anglo American (AAL LN) RIO will be well behind the curve in its evolution from an iron producer" Does this mean you would be negative on RIO? I note that you had been considering swapping out of BHP into RIO. Cheers Alain
Hi Alain,
There is a few caveats here but yes we do prefer BHP over RIO assuming it doesn’t overpay for Anglo American (AAL LN) – potentially a big if!
We like the way BHP is evolving their business with a distinct focus on sustainability and especially copper, remember they bought OZ Minerals (OZL) last year and now they are looking at AAL. Also they merged their oil & gas division into Woodside (WDS) in 2022 and sold some major coal assets to Whitehaven (WHC) in 2023, i.e. they are evolving fast.
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