BHP has shifted its focus to other development options following the rejection of its takeover proposal by Anglo American shareholders earlier this year, the company chairperson said.
The world's largest miner withdrew from a $49 billion acquisition offer for Anglo American in May after being shunned on three occasions.
There was speculation that the deal may come under scrutiny again due to the impending conclusion of a six-month moratorium on BHP’s ability to make another attempt.
"We made an approach to Anglo American earlier this year ... we thought there was an opportunity here to create something unique and special, a bit of a sort of one plus one equals three opportunity," Reuters quoted Ken MacKenzie as saying at BHP's annual meeting on Wednesday.
"Unfortunately, Anglo American shareholders had a different view, and they thought there was more value in the plan that their management wanted to execute. And so they moved on. And quite frankly, so have we."
To demonstrate that the group had moved on, he cited BHP's C$4.5 billion ($3.25 billion) agreement with Canada-listed Lundin Mining in July to jointly acquire developer Filo Corp. to expand their copper assets in South America.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
