Tech giants come knocking for a piece of Anglo American as copper scarcity bites, Wanblad tells FT - Mining.com
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Anglo American (LON: AAL) has held talks with technology companies interested in buying equity in the miner as a way of securing supplies of the metals that go into data centres, chief executive Duncan Wanblad told the Financial Times’ Metals and Mining Summit in London on Thursday.
Discussions were “absolutely being had”, Wanblad said, with the question from the tech side coming down to whether to lock in long-term offtake directly or take an equity position to secure a stake in future supply. No stakes have been taken, but there had been “deep expressions of interest” in doing so, he told the summit. “Given the scarcity issue that we’ve been speaking about, a lot of people are looking for ways to secure supply.”
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