During Rio Tinto’s Annual General Meeting (AGM), Chairman Dominic Barton remained tight-lipped about whether the mining conglomerate is eyeing a bid for Anglo American. This comes in the wake of Anglo American’s recent rejection of a €36.3 billion takeover proposal from BHP, citing the offer as insufficient.
Barton’s response to a shareholder inquiry was clear: “We don’t speculate or comment on M&A activity.” This statement leaves room for speculation in financial markets about Rio Tinto’s next moves, as industry watchers consider the possibility of a bidding war for the British mining group.
Anglo American’s dismissal of BHP’s substantial offer has triggered intense speculation about potential interest from other major players in the mining sector, including Rio Tinto. With the stakes high in a market driven by robust demand for mining resources critical for the global energy transition, the industry is closely watching Rio Tinto’s strategic maneuvers in this developing situation. 
