“What will BHP make of this? Can Glencore, the master negotiator, lure them to the dance or is there risk to Glencore and Rio if the former overplays its hand?” asked Mark Kelly, chief executive of MKI Global Partners, a London-based corporate advisory firm.
“In keeping with BHP’s failed moves on Anglo, their main strategic driver is to lower exposure to iron ore (and China) – something that has been the bedrock of their business for decades,” said MKI’s Kelly. “All the large mining companies are trying to think about the best way to do this and position their businesses for the future.”
Published by and image courtesy of Australian Financial Review