Basic Materials

U.S. Steel shareholders have given the green light to the company's $14.9 billion acquisition by Japan's Nippon Steel, but the deal faces an uphill battle with political opposition and regulatory hurdles. Despite overwhelming shareholder approval, concerns over national security and potential job losses have prompted scrutiny from lawmakers and the United Steelworkers union.

Anglo American has rejected a $60 billion takeover proposal from rival BHP, deeming the offer unattractive and undervaluing the company's prospects. The decision follows an unusual spike in Anglo American's share price, prompting questions about potential information leaks and a possible investigation by the Financial Conduct Authority.

Chemicals giant Dow Inc. has projected second-quarter sales below expectations due to weak demand for consumer durables and ongoing concerns about the European economy. Despite this, the company managed to surpass profit estimates for the first quarter, driven by an uptick in volumes and lower feedstock costs.

Anglo American, a British multinational miner with a market capitalization of $36.71 billion, has received an all-share buyout proposal from BHP Group, the world's largest listed mining company with a market capitalization of about $149 billion. The proposal, if agreed upon, would give BHP access to more copper, potash, and coking coal, all of which are considered strategic commodities for the clean energy transition.

A 21-year-old man tragically passed away at the St Ives gold mine near Kambalda in Western Australia's Goldfields, marking the second fatal incident at the mine in 18 months. The mining operations have been halted, as investigations by WA Police, WorkSafe, and the Department of Energy, Mines, Industry Regulation and Safety (DMIRS) are ongoing to determine the circumstances surrounding the young man's death.