BHP – the world’s largest miner by market capitalization – submitted a $39 billion bid last week for flailing miner Anglo American, raising the prospect of turning the world’s largest copper producer into even more of a behemoth than it already is. The acquisition would increase BHP’s copper output by around 50%, firmly placing it as the world’s largest supplier of the metal just in time for demand to increase as a result of the energy transition. Anglo American very quickly declined the offer, claiming that it “significantly undervalued” the company’s assets. Anglo has suffered immensely over the last year or so, as prior to the offer its share price had fallen 8-9% in the last 12 months, at a…