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ACG Metals Ltd on Thursday said it does not plan to make an offer for fellow London-listing Anglo Asian Mining PLC, seeing little opportunity for ‘value creation’ from a deal. ACG, which defines itself as a firm with the ‘vision to consolidate the copper industry through a series of roll-up acquisitions’, said the decision followed a detailed look into Anglo Asian’s asset base. Anglo Asian is a gold, copper and silver producer with operations in Azerbaijan. ‘This decision has been reached following a thorough review by ACG of Anglo Asian’s asset base. ACG has, from inception, applied a highly disciplined approach to capital allocation including to potential M&A opportunities. Together with its focus on protecting the value of ACG’s equity, this discipline is a hallmark of ACG’s management ethos. Applying these two core filters ACG does not believe that an acquisition of Anglo Asian would result in value creation for ACG’s stakeholders,’ ACG said. In response, Anglo Asian Mining said it ‘remains committed to creating value for its shareholders through continued production and development of its assets’. ‘This includes the two new mines it has brought online over the past 12 months, in addition to its historically profitable assets,’ Anglo Asian said. ‘Over the past year, as we have followed through on our strategic plans and continue to move towards developing Xarxar, Garadagh and grow into a mid-tier copper producer, the markets have started to recognize the ability of our management team and board to continuously develop new opportunities from our extensive license portfolio. The board and management team look forward with confidence to our strategy, which has been successful for our shareholders. We are confident that Anglo Asian will drive substantial value with our clear and achievable strategic plans to organically grow the business.’ Last month, ACG said it was in the early stages of ‘considering making an offer’ for Anglo Asian. In response, Anglo Asian at the time said: ‘The company is making excellent progress in executing its clear growth strategy to transition to a mid-tier, multi asset low-cost copper-focused producer. During 2025, Anglo Asian has brought into production two new mines, Gilar and Demirli, on time and on budget, reinforcing the company’s long-term track record in the country.’ Earlier on Thursday, Anglo Asian hailed a record month for copper production in November at the Gedabek asset, on the back of ‘recent modifications to the flotation plant’. Anglo Asian Mining shares lost 2.8% on Thursday afternoon in London to 223.55 pence, having traded as high as 245p in morning trade. It has a £254.0 million market capitalisation. ACG shares rose 1.0% to 1,060.00p, giving it a market value of £240.0 million. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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