BHP boss in South Africa to drum up help for Anglo American deal

Takeover talks: BHP chief exec Mike Henry

The boss of BHP flew to South Africa for crisis talks as the mining giant seeks support to take over rival Anglo American.

Chief executive Mike Henry fears a deal could be derailed after Anglo dismissed Sydney-based BHP’s £31billion approach.

But BHP is thought to be working on a fresh offer of up to £40billion. The proposal faced a backlash in South Africa last week but BHP insisted that its plans to dump two of Anglo’s South African businesses did ‘not reflect a view on the country as an investment destination’.

The South African government is BHP’s second-biggest shareholder and the shock bid came at a politically charged time as the country holds a general election this month.