MIKE Henry, CEO of BHP said a recent visit to South Africa had “nothing to do” with a possible second bid for control of Anglo American.
Henry and chief development officer Catherine Raw met South Africa government officials and the Public Investment Corporation, the state-owned asset manager, in a visit during October, according to a report at the time by the Financial Times.
Speaking to the newspaper during a visit to Tokyo last week, Henry said the visit had “nothing to do with the acquisition opportunity”. He told the Financial times it was for general relationship-building with new ministers in Pretoria, as well as for visiting investors and people related to a BHP-backed nickel project in Tanzania.
BHP chair Ken Mackenzie said at the group’s annual general meeting that it had “moved on” from the failed Anglo attempt in May this year. The company later backpedalled, issuing a statement saying Mackenzie’s comments were not intended as formal market guidance that no further offer would be made.
Commenting on the market in general, Henry told the Financial Times there were early signs that China’s recent stimulus efforts were having a positive effect.
“We’re finally starting to see some green shoots,” he told the Financial Times. “If you look at the parts of the economy that are lagging, it has been consumption and property. Surprise, surprise, it comes back to consumer confidence,” he said.
Henry said policymakers needed to structure stimulus in a way that built consumer confidence, while cautioning: “I don’t know that it’s ever going to be just a matter of money.”
China launched a stimulus package in September, including interest rate cuts and funding for the stock market. Following the measures, sales for the 100 biggest property developers rose year on year in October for the first time in 2024,” said the Financial Times.
