Anglo American Rejects BHP Offer; Gatos Silver’s Mineral Findings; IperionX Installs New Furnace And More: Friday’s Top Mining Stories – Anglo American (OTC:AAUKF), BHP Group (NYSE:BHP)

1. Anglo American (OTC:AAUKF) rejected the $39-billion all-share takeover bid from BHP Group (NYSE:BHP), calling it “highly unattractive” and undervalued. 

The offer included conditions like demerging Anglo American’s stakes in Amplats and Kumba Iron Ore and Anglo’s board cited the bid as opportunistic, dilutive to shareholder value and risky.

Despite BHP claiming a 31% premium, Anglo emphasized the proposal underestimated the value of its significant copper holdings.

See Also: Elliott Management’s $1B Anglo American Stake Ups Ante As Mining Megamerger Collapses

1. Gatos Silver Inc (NYSE:GATO) updated on its exploration at the Los Gatos district in Mexico, highlighting new mineral intercepts at the Cerro Los Gatos mine and appointing Chad Yuhasz as vice president. 

CEO Dale Andres noted these findings will enhance the next resource estimate due in the third quarter of 2024. 

Key intercepts included significant silver, zinc, lead, gold and copper grades. 

The company is also preparing for expanded drilling in the second quarter of 2024 and has made progress in Greenfields exploration, with initial results showing potential deeper mineralization.

Also Read: Standard Lithium Activates Cutting-Edge Plant, Paves Way For Cleaner Mining

1. IperionX ADR (NASDAQ:IPX) successfully installed its commercial-scale HAMR titanium furnace at its new Titanium Manufacturing Campus in Virginia. 

The furnace offers advantages like lower temperatures, higher efficiencies, shorter cycles and better product quality. 

With the campus construction on schedule, the furnace commissioning is set for the second quarter of 2024, and production of titanium powder will start by mid-2024. 

IperionX aims to develop a U.S. titanium supply chain using scrap and locally sourced minerals to produce high-performance titanium products more efficiently and with reduced environmental impact.

1. Hycroft Mining Holding Corporation (NASDAQ:HYMC) will be added to the Solactive Global Silver Miners Total Returns Index starting May 1, 2024. 

Companies eligible for the Silver Index must have significant operations in silver mining, with substantial current or anticipated future revenues from silver mining or closely related activities.

This inclusion recognizes Hycroft’s significant operations in silver mining and its recent high-grade silver discovery at Hycroft Mine, providing its investors with greater liquidity and trading flexibility.

Now Read: Nigeria Cracks Down On Dormant Mining Titles To Stop ‘License Racketeering’

Benzinga Mining is the bridge between mining companies and retail investors. Reach out to licensing@benzinga.com to get connected with the Benzinga community!

Photo: Shutterstock