Anglo American is planning to split up and sell several assets after rejecting a sweetened $43 billion offer by rival mining giant BHP Group (BHP) in a break-up plan 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Duncan Wanblad called its most “radical” shakeup in decades.

Anglo said Tuesday that it would spin off its platinum-metals subsidiary Anglo American Platinum; explore options for putting its nickel operation on “care and maintenance” before divesting 🌺it; divest or demerge its diamond unit De Beers; a꧒nd sell its steelmaking coal assets.

BHP had made the bid for Anglo on soaring demand for copper at a time when the world is moving away from fossil fuels towards more 澳洲幸运5官方开奖结果体彩网:renewable energy projects and electric vehicles. Wanblad said the breakup will mean the miner’s assets base will be focused on copper and premium iron o🍌🐈re.

Copper has been on a tear this year, driven by 澳洲幸运5官方开奖结果体彩网:rising demand for artificial 🌠intelligence (AI), which feeds on power from increasingly large data centers. Copper is commonly used in electrical w꧃iring.

Bank of America (BAC) released a note earlier this month estimating that prices could rise another 17% by 2026, 

BHP 澳洲幸运5官方开奖结果体彩网:American depositary receipts (ADRs) were 3% higher as of 10:54 a.m. ET Tuesday, while An♉glo shares were trading 3.6% lower in London.