Anglo American Share Discussion Threads

[misca2] 23/2/2020 10:08

petershares1
23 Feb '20 - 09:59 - 114 of 114 (Filtered)


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[waldron] 23/2/2020 07:27

Mail on Sunday: Anglo American considered offering Sirius Minerals investors shares in Anglo itself as part of its takeover bid, the MoS can reveal.

[grupo] 22/2/2020 08:55

Ariane
20 Feb '20 - 11:15 - 6473 of 6480
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Anglo American PLC reported its results for 2019 on Thursday. Here's what you need to know:



NET PROFIT: The company made a profit of $3.55 billion in 2019, and though it remained unchanged from the prior year, it beat the consensus estimate of $3.42 billion, which was compiled from the forecasts of 14 analysts on FactSet.



UNDERLYING EBITDA: Underlying earnings before interest, taxes, depreciation and amortization--Anglo American's preferred metric, which strips out certain one-off items--beat both consensus forecast and last year's figures with a rise of 9.2% to $10.01 billion. Consensus had this figure pegged at $9.84 billion, compiled from 19 analysts' forecast on FactSet.



REVENUE: Revenue for the year rose 8.2% to $29.87 billion. Consensus for revenue was $29.29 billion, taken from FactSet based on the forecasts of 17 analysts.



WHAT WE WATCHED:



-COST PERFORMANCE: Strong costs performance helped deliver better Ebitda, says Citi. Anglo delivered strong cost performance with units costs lower than its guidance for copper, nickel, PGMs and Minas Rio, the bank added.



-TRADE WITH CHINA: Anglo American's chief executive says the coronavirus epidemic will be a short-term issue for the diversified mining company. "We are less reliant on China than our major competitors," Mark Cutifani says.



Write to Adriano Marchese at [e-mail]



(END) Dow Jones Newswires

February 20, 2020 05:34 ET (10:34 GMT)

[sarkasm] 22/2/2020 08:12

An overview of Anglo American’s deal to take over Sirius Minerals

Features & AnalysisMiningProject

By James Murray 21 Feb 2020

Sirius Minerals operates the Woodsmith Mine, which is the largest mining project in the UK and has deep deposits of polyhalite
Anglo American Sirius Minerals

London-listed Sirius owns the £3.2bn ($4.19bn) project under the subsidiary trading name of York Potash (Credit: Sirius Minerals)

Anglo American has agreed on a deal to take over Sirius Minerals – but shareholders believe the proposed £405m ($527m) figure undervalues the company.

Sirius Minerals operates the Woodsmith Mine, which is the largest mining project in the UK and has deep deposits of polyhalite – primarily used as a fertiliser.

But the project near Whitby in North Yorkshire, England, has thrown the miner into financial problems after it struggled to raise the necessary funds to complete the mine.

Anglo’s deal would rescue the company from potential administration and ensure Sirius’ shareholders recoup at least some of their investment.


What is the Woodsmith Mine project Anglo American is looking to purchase from Sirius Minerals?

London-listed Sirius owns the £3.2bn ($4.19bn) project under the subsidiary trading name of York Potash.

The Woodsmith project is considered to be the world’s largest-known deposit of high-grade polyhalite – a mineral used in fertiliser, although it’s currently lacking the same investor appeal as the more commercially-viable potash.

Plans for two 1.5km shafts at the operation and extensive underground tunnel shafts would make it the first deep pit mine to be built in the UK for several decades, and one of the biggest.

Under previous guidelines, Sirius anticipated the mine would reach a production capacity of 13 million tonnes (Mt) a year by 2026 and 20Mt by 2029 – creating 4500 direct and indirect jobs.

It has proven and probable ore reserves of 280Mt, with estimated resources of 2.66 billion tonnes.

Sirius has already pumped more than $1bn into the Woodsmith Mine, but Anglo believes a further $3bn to $4bn will be required to bring it forward to the operations stage.

The firm was forced to bring forward a review last September after failing to complete a bond issue required to unlock a $2.5bn lifeline package from American investment bank JPMorgan Chase – which meant Sirius had to accept Anglo’s offer.


Anglo American’s offer to purchase Sirius Minerals

If the deal goes through, it would mark Anglo’s return to the fertiliser mineral market, having offloaded its previous assets in the sector in 2016.

The offer of acquisition values Sirius at 5.5 pence per share – representing a premium of 34.1% to the share price at the close of play on 7 January, when the two parties made the initial agreement.
anglo american sirius takeover
Sirius Minerals’ Woodsmith polyhalite mine in North Yorkshire, UK (Credit: Sirius Minerals)

Anglo’s CEO Mark Cutifani said in January the UK-based mining giant’s offer would provide certainty to Sirius’ shareholders and employees, while bringing the North Yorkshire polyhalite project’s potential “closer to reality”.

He added: “We intend to bring Anglo American’s financial, technical and product marketing resources and capabilities to the development of the project, which of course would be expected to unlock a significant and sustained associated employment and economic stimulus for the local area.

“The addition of the project supports our ongoing transition towards supplying those essential metals and minerals that will meet the world’s evolving needs – in terms of the undoubted need for cleaner energy and transport, and providing infrastructure and food for the world’s fast-growing and urbanising population.”


Why Sirius Minerals’ shareholders believe Anglo American’s offer is a “mockery”;

Odey Asset Management, a London-based hedge fund that owns a 1.29% economic in Sirius, said the 5.5 pence per share offer was not satisfactory and seems “to make a mockery of both internal and external audits at Sirius”.

In an open letter on 18 February, Odey claimed Anglo could afford to pay more without damaging its investment case and added it would only vote in favour of a bid at 7 pence per share or more.

It highlighted Sirius’ most recent accounts in September show an equity value of £893.1m ($1.15bn) – about 120% above Anglo’s $527m offer.

But Sirius, which is set to run out of money by the end of March, has said the deal is the best option available to its investors.

The deal needs to receive the go-ahead from 75% of Sirius’ shareholders – some of whom are local investors that have put their life savings into the project – at a special meeting on 3 March for Anglo to complete the takeover.

[waldron] 21/2/2020 17:16

Iron Ore 86.42 USD 0.27(0.31%)
Gold COMEX 1,643.30 +1.41%
Silver COMEX 18.49 +0.91%
Platinum NYMEX 976.80 -0.22%
Copper COMEX 2.61 +0.73%
Brent Crude Oil NYMEX 58.22 -1.84%
Gasoline NYMEX 1.75 -1.90%
Natural Gas NYMEX 1.91 -0.93%
WTI 53.3 USD -0.30%

Rio Tinto
4,202.5 -0.17%

Bhp
1,661.6 -0.93%

Anglo American
2,125 +0.12%

Glencore
224.35 -2.01%

[florenceorbis] 21/2/2020 07:25

Deutsche Bank Buy 2,400.00 2,500.00 Reiterates

[waldron] 20/2/2020 17:18

Iron Ore 86.15USD 0.45(0.52%)
Gold COMEX 1,624.10 +0.76%
Silver COMEX 18.37 +0.29%
Platinum NYMEX 983.40 -2.10%
Copper COMEX 2.59 -0.81%
Brent Crude Oil NYMEX 59.36 +0.41%
Gasoline NYMEX 1.77 -0.46%
Natural Gas NYMEX 1.99 +0.91%
WTI 53.91 USD +0.30%


Rio Tinto
4,209.5 +0.19%

Bhp
1,677.2 -0.85%

Anglo American
2,122.5 +1.65%

Glencore
228.95 -1.31%

[waldron] 20/2/2020 15:17

Anglo American PLC, one of the world's largest miners, gave a full picture of fatalities related to its operations Thursday, a major shift in an industry that typically undercounts the number of deaths.

A Wall Street Journal investigation revealed in December that many mining deaths are not captured by global safety statistics, making the industry seem safer to regulators, investors and consumers.

Four Anglo American employees were killed at its managed operations in 2019, the company said in its full-year results. Taking into account other incidents -- including employees who died off-site in road accidents, two who died in 'security incidents' and one at a joint venture that Anglo doesn't manage -- a total of 18 miners died.

Miners don't report deaths at joint ventures they don't manage, despite having influence over health and safety policy, leaving dozens of fatalities off the books. Fatalities that occur during the transportation of mined materials are also often undercounted.

"We are not terribly good as an industry at reporting all incidents," said Anglo's Chief Executive Mark Cutifani. "They are our colleagues, we know them all, so we report all of those types of incidents," he said, talking of some of the deaths outside of mine sites last year.

Between 2010 and 2018, the world's three largest publicly listed miners, BHP Group Ltd., Rio Tinto PLC and Vale SA, reported 117 deaths globally at their managed operations.

There were an additional 89 deaths of workers during the same period at joint ventures the companies weren't running, according to a Journal analysis of company and government records, stripping out double counting.

Miners have reduced fatalities and injuries in recent decades, but a lack of reliable accounting in the most basic safety metric makes it difficult to determine the extent of any gains.

The pressure to improve safety and transparency is especially intense after a mine-waste dam operated by Vale burst last year, unleashing a river of mud in the Brazilian town of Brumadinho.

In another example of how mining deaths are underreported, the Brazilian government doesn't count many contractors who die in mining accidents. As a result, as many as 139 of the 270 people who died at Brumadinho weren't classified as mining deaths.

BHP, the world's largest miner, also recently began disclosing in some publications all deaths at all of its operations. Anglo went further on Thursday by tallying all deaths related to its operations high in its annual results announcement and placing that number alongside fatalities at managed operations.

Write to Alistair MacDonald at [e-mail]



(END) Dow Jones Newswires

February 20, 2020 09:50 ET (14:50 GMT)

[ariane] 20/2/2020 11:15

Anglo American PLC reported its results for 2019 on Thursday. Here's what you need to know:



NET PROFIT: The company made a profit of $3.55 billion in 2019, and though it remained unchanged from the prior year, it beat the consensus estimate of $3.42 billion, which was compiled from the forecasts of 14 analysts on FactSet.



UNDERLYING EBITDA: Underlying earnings before interest, taxes, depreciation and amortization--Anglo American's preferred metric, which strips out certain one-off items--beat both consensus forecast and last year's figures with a rise of 9.2% to $10.01 billion. Consensus had this figure pegged at $9.84 billion, compiled from 19 analysts' forecast on FactSet.



REVENUE: Revenue for the year rose 8.2% to $29.87 billion. Consensus for revenue was $29.29 billion, taken from FactSet based on the forecasts of 17 analysts.



WHAT WE WATCHED:



-COST PERFORMANCE: Strong costs performance helped deliver better Ebitda, says Citi. Anglo delivered strong cost performance with units costs lower than its guidance for copper, nickel, PGMs and Minas Rio, the bank added.



-TRADE WITH CHINA: Anglo American's chief executive says the coronavirus epidemic will be a short-term issue for the diversified mining company. "We are less reliant on China than our major competitors," Mark Cutifani says.



Write to Adriano Marchese at [e-mail]



(END) Dow Jones Newswires

February 20, 2020 05:34 ET (10:34 GMT)

[waldron] 19/2/2020 17:10

Iron Ore 85.70 USD 0.27(0.32%)
Gold COMEX 1,611.00 +1.70%
Silver COMEX 18.27 +2.84%
Platinum NYMEX 1,004.80 +1.10%
Copper COMEX 2.61 -0.80%
Brent Crude Oil NYMEX 59.11 +2.35%
Gasoline NYMEX 1.77 +1.81%
Natural Gas NYMEX 1.96 -0.56%
WTI 53.15 USD +1.94%



Rio Tinto
4,201.5 +0.71%

Bhp
1,691.6 +1.44%

Anglo American
2,088 +1.63%

Glencore
232 +2.61%

[sarkasm] 19/2/2020 11:31

RBC Capital Markets Top pick but slightly down from 3,050.00 to 3,000.00 Reiterates

[waldron] 18/2/2020 17:00

Iron Ore 85.43 USD 0.57(0.67%)
Gold COMEX 1,584.10 -0.14%
Silver COMEX 17.76 +0.15%
Platinum NYMEX 993.90 +2.18%
Copper COMEX 2.63 +1.10%
Brent Crude Oil NYMEX 57.21 -0.81%
Gasoline NYMEX 1.74 -0.49%
Natural Gas NYMEX 1.95 +0.88%

[maywillow] 18/2/2020 10:20

Glencore Sees Carbon Emissions Falling as Coal Mines Fade Away

Thomas Biesheuvel, Bloomberg News








A bucket wheel excavates soil and rocks as a giant excavator operates at the open pit lignite mine, operated by RWE AG, in Hambach, Germany, on Monday, Aug. 13, 2018. Not far from Germany’s Rhine River, a fight to thwart giant excavators from grinding away what’s left of the 1,200-year-old Hambach forest came to a head this month as thousands of protesters faced off with police in a tense, and at times violent, showdown. Photographer: Alex Kraus/Bloomberg

A bucket wheel excavates soil and rocks as a giant excavator operates at the open pit lignite mine, operated by RWE AG, in Hambach, Germany, on Monday, Aug. 13, 2018. Not far from Germany’s Rhine River, a fight to thwart giant excavators from grinding away what’s left of the 1,200-year-old Hambach forest came to a head this month as thousands of protesters faced off with police in a tense, and at times violent, showdown. Photographer: Alex Kraus/Bloomberg , Bloomberg

(Bloomberg) -- Glencore Plc, the world’s biggest shipper of thermal coal, has mapped out cuts in carbon emissions generated by its customers as the company slowly retreats from the dirtiest fuel.

The world’s biggest resource companies, from miners to oil majors, are under increasing pressure to account for the pollution created when their customers burn or process the materials they produce.

Glencore said on Tuesday its so-called Scope 3 emissions will fall by 30% in the next 15 years, predominantly as a result of depleting mines in Colombia and South Africa. That’s a projection based on its current mine plans, rather than a fixed target. Glencore did not say how much coal production would be cut to meet the projection.

Glencore has faced the brunt of a growing investor concern about climate change. While its biggest rivals are in the process of exiting coal, Glencore has been a staunch defender of the fuel, saying it’s essential to providing affordable and reliable power in developing countries.

Still, the commodity trader’s billionaire chief executive officer, Ivan Glasenberg, has been forced to make concessions to keep investors. Last year, Glencore agreed to cap coal production, albeit above its current output level.

The mining industry has yet to find common ground on how to deal with scope 3 emissions. BHP Group in July called on the mining sector to take ownership of emissions that result from product sales, a stance that’s been rejected by some rivals who argue it’s too difficult to calculate a supplier’s share. Rio Tinto Group is partnering with a Chinese steelmaker to develop methods to cut pollution and improve the steel industry’s environmental performance, while Vale SA has said it will develop ambitious targets to cut Scope 3 emissions.

Arguably, the Scope 3 emissions of the oil industry are even more difficult to calculate. That hasn’t stopped companies like Repsol SA and BP Plc from setting net-zero emissions targets for all the oil and gas they extract and their customers burn.

Glencore said the reduction in emissions will derive mainly from its Colombian coal assets, and to a lesser extent from its South African and Australian mines. The Colombian market is currently under pressure as it predominantly ships to Europe where countries are cutting their use of the fuel, while South Africa has challenges with labor relations and government policies.

“Our capital expenditure reflects significant current investments towards growth in production of battery and conductive materials required for the transition to a lower carbon economy,” Glencore said in the statement.

--With assistance from Akshat Rathi.

To contact the reporter on this story: Thomas Biesheuvel in London at [e-mail]

To contact the editors responsible for this story: Lynn Thomasson at [e-mail], Dylan Griffiths, Nicholas Larkin

[waldron] 17/2/2020 17:07

Iron Ore 86.39USD 1.53(1.77%)
Gold COMEX 1,584.70 -0.11%
Silver COMEX 17.77 +0.20%
Platinum NYMEX 973.70 +0.51%
Copper COMEX 2.63 +1.04%
Brent Crude Oil NYMEX 57.35 +0.05%
Gasoline NYMEX 1.73 +0.39%
Natural Gas NYMEX 1.94 +4.36%
(WTI) 52.1 USD -0.02%



Rio Tinto
4,212.5 +0.37%

Bhp
1,691.6 +0.98%

Anglo American
2,103.5 +0.48%

Glencore
236.65 +1.15%

[florenceorbis] 17/2/2020 07:52

AAL Goldman Sachs Neutral 2,210.00 - Reiterates

[1steelman] 17/2/2020 05:56

EXCLUSIVE: #SXX #AAL MP urges investors to back Sirius Minerals' takeover

[skinny] 15/2/2020 10:06

The link : .

[waldron] 15/2/2020 09:11

The Times: Small investors are still planning to block Anglo American’s £405 million takeover of Sirius Minerals

[waldron] 14/2/2020 17:12

Iron Ore 84.86 USD -0.28(-0.33%)
Gold COMEX 1,584.80 +0.38%
Silver COMEX 17.73 +0.63%
Platinum NYMEX 967.40 -0.75%
Copper COMEX 2.60 -0.54%
Brent Crude Oil NYMEX 56.97 +1.12%
Gasoline NYMEX 1.72 -0.20%
Natural Gas NYMEX 1.86 +0.05%
WTI 51.85 USD +0.86%

Rio Tinto
4,197 -0.51%

Bhp
1,675.2 -1.14%

Anglo American
2,093.5 -1.81%

Glencore
233.95 -1.62%

[waldron] 13/2/2020 17:43

Iron Ore 85.14USD 0.67(0.79%)
Gold COMEX 1,579.50 +0.50%
Silver COMEX 17.63 +0.73%
Platinum NYMEX 974.20 +0.71%
Copper COMEX 2.62 +0.60%
Brent Crude Oil NYMEX 56.32 +0.95%
Gasoline NYMEX 1.74 +0.67%
Natural Gas NYMEX 1.87 -0.21%
WTI 51.62 USD +0.31%


Rio Tinto
4,218.5 -1.04%

Bhp
1,694.6 -0.70%

Anglo American
2,132 -1.00%

Glencore
237.8 -0.44%