LONDON (Reuters) - The chief executive of Anglo American (AAL.L), Cynthia Carroll, has downplayed speculation that the miner is on the hunt for acquisitions, the Financial Times reported on Wednesday.
The newspaper quoted Carroll as saying bid prices in the mining sector have been “too high” for the company to enter the fray.
“We are always looking at possible combinations across the sector and always evaluating whether it’s a better business case to build our own projects or look at acquisition opportunities,” said Carroll.
She added, however, that “prices are still too high,” basing her comments on recent bids and takeovers.
Anglo, one of Australia’s top producers of coal, was recently linked to a bid for Riversdale Mining, a Mozambique-focused coal miner that was ultimately bought by Rio Tinto (RIO.AX) (RIO.L) for A$4 billon.
More recently, it considered a possible bid for Macarthur Coal MCC.AX, an Australian coal miner.
Reporting by Stephen Mangan; Editing by Gary Hill