Anglo Will Pay South32 Up To 200m in Mineral Resource Compensation For The Copper And Nickel Project

London - Anglo American, a London-listed mining company, said on July 12, 2022 it would buy mineral resource compensation fees for copper and nickel projects from South32 for up to $200 million.

"We see this as an attractive entry point for copper and nickel with significant commodity upside potential, consistent with our rigorous acquisition approach and robust sustainability criteria," Anglo chief Executive Marc Bishop Lafleche said.

Anglo values South32's portfolio at about $185m, with a potential range of $15m. Lafleche added that South32 would own about 16.9 per cent of British American upon completion of the deal.