Australian heavyweight miner, the BHP Group, has made a takeover approach for rival miner, Anglo American.

Following media rumours about this possibility on Wednesday, Anglo American released a statement to the market this morning confirming that it had received an unsolicited, non-binding and highly conditional proposal from the BHP Group.

BHP is proposing an all-share offer for Anglo American, which it says would need to be preceded by Anglo separating the two major mining groups it currently has a majority shareholding in, namely Anglo American Platinum and Kumba Iron Ore.

Anglo has indicated that its Board is currently reviewing the offer with its advisers. Anglo American's share price jumped up as much as 14% on the news.

To speak to us about the implications of this possible deal, I'm joined by Peter Major at Modern Corporate Solutions.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.