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1) According to Jefferies analyst Chris LaFemina, Freeport-McMoRan and BHP would fit strategically if they decided to go after Teck Resources after the separation of its two businesses. "While synergies with Teck Metals would be low aside from corporate costs, Freeport trades at a premium and could do an accretive deal at a higher price," LaFemina wrote, but also noting company management has spent years de-risking the business financially and operationally. BHP has already acquired OZ Minerals, however it may not be enough in order to increase its exposure to copper. "Like Freeport, BHP would have limited synergies with Teck Metals and regulatory would likely be a problem, but BHP trades at a premium to Teck and could use lots of cash," the analyst wrote.
2) BHP and Antofagasta Minerals called for more dialogue between the industry and the government of Chile to prevent a copper mining royalty from affecting competitiveness in the industry, especially when it comes to the country of Chile. Rag Udd, BHP's head of the Americas said that BHP "...respects the dialogue with the authorities. But the proposed level of royalty would leave Chole in an uncompetitive position compared to other jurisdictions in which BHP operates." Chile is the world's largest producer of copper, producing about a third of the world's copper, and a new royalty would hit companies that are already struggling with declining ore grade. "I hope that the next (legislative) stage will have that opening to continue collaborating," Antofagasta's Executive President Ivan Arriagada said.
3) Peter Rockandel, the CEO of Lundin Mining, is confident that the type of assets the company holds would be attractive to prospective buyers as the copper industry begins to consolidate. “People are looking at every company — it’s just natural,” Mr. Rockandel said without mentioning whether or not his company would be targeted. “One of the key things we have is the majority of all of our assets, with the exception of one, are long life. And that’s what people usually want when they do an acquisition.” Lundin is Canada's third biggest mining company, behind Teck Resources and First Quantum Minerals. Lundin has been approached by both major miners and trading houses with possible investments in its Josemaria project in Argentina. Peter Rockandel said that he expects one of two more big deals in the current phase.