Anglo American Share Discussion Threads

[philanderer] 10/11/2020 18:00

American British multinational mining company Anglo American has announced the award of a 10-year charter contract for four LNG fuelled Capesize+ vessels.

The contract marks the first time Anglo-American has introduced marine LNG into its chartered fleet.

Commenting on the charter contract, Peter Whitcutt, CEO of Anglo American’s Marketing business said the company was committed to reducing emissions from its ocean freight operations and to playing a leading role in shaping a more sustainable future for the maritime industry.

[philanderer] 09/11/2020 14:14

Anglo American was up 3.4% after Morgan Stanley upgraded the miner to Overweight from Equal Weight..... tp 2280p

[sarkasm] 08/11/2020 07:41

Anglo American Platinum closes ACP Phase B

MiningPlatinumMajor Commodities

By NS Energy Staff Writer 06 Nov 2020

The ACP Phase B unit underwent a planned and measured shutdown
mining-excavator-1736293_640

Anglo American Platinum closes ACP Phase B resulting in temporary build up in work-in-progress inventory. (Credit: Khusen Rustamov from Pixabay)

Anglo American Platinum has made the pre-emptive decision to close the Anglo Converter Plant (ACP) Phase B unit, following a series of water leaks, to ensure an ongoing safe operating environment, protect employees and protect the integrity of the plant and surrounding processing assets.

Natascha Viljoen, CEO of Anglo American Platinum states:

“As indicated in our Q3 production report on 22 October, the ACP Phase B unit has been fragile and has unfortunately recently experienced a number of further instances of water leaks. Whilst the ACP management team has done extraordinary work to keep the unit operating safely over the past several months, we have taken this pre-emptive decision to now close the ACP Phase B unit to ensure we protect our employees, operating environment and the integrity of our assets. Whilst this early closure will result in a temporary build up in work-in-progress inventory, we continue to make good progress with the rebuild of the main ACP Phase A unit, which we expect to complete towards the end of this year.”

Increased monitoring, controls and systems were implemented to continually assess the ACP Phase B unit and further water leaks were discovered. The ACP Phase B unit underwent a planned and measured shutdown. Whilst the ACP management team has been able to complete repairs to previous water leaks, after a comprehensive assessment, and with further water leaks discovered, the ACP Phase B unit now requires more extensive repair work. As a result, the ACP Phase B unit has been closed for a full rebuild in 2021.

As at 31 October 2020, the Company has refined 2.4 million PGM ounces. As production continues at c.94% of normal production levels, the closure of ACP Phase B unit until ACP Phase A unit is recommissioned will result in an increase in work-in-progress inventory, whose release will commence once the ACP is operational. The Company has made significant progress with the Phase A unit and remains on track to commission it before the end of this year, ahead of the original schedule of Q2 2021.

As a result of the closure of the ACP Phase B unit, the Company has lowered its refined production and sales guidance for 2020 to c.2.5 million PGM ounces (previously 3.1-3.3 million PGM ounces). There is no change to other guidance, including M&C production which remains at between 3.6 – 3.8 million PGM ounces. The Company has contingency plans in place and will be engaging with customers to minimise any disruption to contractual obligations.

As at 31 October 2020, the Company remains in a net cash position of c.R28 billion (unaudited) and has R25 billion of committed facilities available.

Source: Company Press Release

[waldron] 06/11/2020 17:27

Gold COMEX 1,955.10 +0.21%
Silver COMEX 25.67 +0.79%
Platinum NYMEX 896.20 -0.43%
Copper COMEX 3.15 +1.33%
Brent Crude Oil NYMEX 39.55 -2.85%
Gasoline NYMEX 1.08 -2.63%
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Rio Tinto
4,622 +2.88%

Bhp
1,585 +1.92%

Anglo American
1,912 +2.76%

Glencore
170 +3.57%

[philanderer] 06/11/2020 10:56

JEFFERIES CUTS ANGLO AMERICAN PRICE TARGET TO 2,300 (2,400) PENCE - 'BUY'

RBC CUTS ANGLO AMERICAN PRICE TARGET TO 2,400 (2,500) PENCE - 'OUTPERFORM'

[marmar80] 06/11/2020 10:08

Wonder is this decision caused an increased traffic on Jubilee Metals (Platinum) JLP, who also own their processing plant in South Africa

[sarkasm] 05/11/2020 09:47

TOP NEWS: Anglo American Platinum Lowers Guidance Amid Plant Closure

Thu, 5th Nov 2020 09:03
Alliance News

(Alliance News) - Anglo American Platinum Ltd on Thursday said it has made the pre-emptive decision to close the Anglo converter plant, or ACP, phase B unit following a series of water leaks.

Anglo American Platinum shares were up 1.1% at ZAR1,157.68 each in Johannesburg on Thursday morning. Anglo American PLC shares were down 3.3% in Johannesburg at ZAR372.30 and also 3.3% in London at 1,808.40 pence.

The ACP is part of the chain of processing facilities and is located in Rustenburg, South Africa.

The platinum miner with operations in South Africa said this has resulted in a temporary build-up of work-in-progress inventory.

As a result, Anglo American Platinum has lowered its refined production and sales guidance for 2020 to around 2.5 million platinum group metal ounces, previously forecasted to be between 3.1 million and 3.3 million ounces.

There is no change to other guidance, the company said.

Anglo American Platinum said it was necessary to maintain a safe operating environment, protect employees and protect the integrity of the plant and surrounding processing assets.

Anglo American Platinum Chief Executive said: "Whilst the ACP management team has done extraordinary work to keep the unit operating safely over the past several months, we have taken this pre-emptive decision to now close the ACP phase B unit to ensure we protect our employees, operating environment and the integrity of our assets. Whilst this early closure will result in a temporary build up in work-in-progress inventory, we continue to make good progress with the rebuild of the main ACP phase A unit, which we expect to complete towards the end of this year."

By Greg Roxburgh; [e-mail]

[philanderer] 02/11/2020 14:01

BARCLAYS RAISES ANGLO AMERICAN PRICE TARGET TO 2,815 (2,750) PENCE - 'OVERWEIGHT'

[waldron] 30/10/2020 17:26

Gold COMEX 1,881.60 +0.73%
Silver COMEX 23.68 +1.50%
Platinum NYMEX 845.80 -0.44%
Copper COMEX 3.05 -0.34%
Brent Crude Oil NYMEX 37.53 -1.60%
Gasoline NYMEX 1.02 -0.71%
Natural Gas NYMEX 3.30 -0.57%
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S&P ASX 200
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Rio Tinto
4,357 +0.53%


Bhp
1,490.2 -0.03%


Anglo American
1,811.2 +0.29%



Glencore
155.9 +0.26%

[philanderer] 27/10/2020 10:35

LIBERUM RAISES ANGLO AMERICAN TO 'BUY' ('HOLD') - TARGET 2,400 (2,000) PENCE

[florenceorbis] 22/10/2020 08:40

Oliver Haill

07:51 Thu 22 Oct 2020


Anglo American increases production 24% compared to second quarter

The De Beers owner said it has seen “encouraging improvement” in demand for rough diamonds ahead of the holiday selling season
Anglo American PLC -

Anglo American PLC (LON:AAL) has reported a 24% increase in mineral production in the third quarter compared to the second and is currently operating at roughly 95% of its normal mining capacity as some coronavirus (COVID-19) measures still remain in place.

Copper production was even 4% higher than last year as the Collahuasi mine in Chile increased production by 17%.

Iron ore production of 5mln tonnes (mt) at Minas-Rio in Brazil was down 18% year-on-year and 19% on the second quarter, though the pipeline inspection and maintenance was completed successfully with operations restarted in early October. Production at Kumba in South Africa of 9.5mt was down 9% on last year but higher than the second quarter.

Platinum group metals production was broadly flat year-on-year as a strong performance from the open pit Mogalakwena mine in South Africa, with 12% higher palladium production, largely mitigated lower production from the nearby underground Amandelbult.

Anglo American said it has seen “encouraging improvement” in demand for rough diamonds ahead of the holiday selling season, although this did not necessarily represent a sustained recovery.

Chief executive Mark Cutifani hailed the group’s “strong operational recovery” while maintaining “comprehensive measures across our operations” as part of the response to COVID-19.

“Continued strong performance at the Collahuasi copper operation in Chile helped mitigate our overall year-on-year production decrease to 3% compared to Q3 2019, despite planned maintenance at Minas-Rio iron ore in Brazil and excluding the effect of the suspended Grosvenor metallurgical coal operation in Australia,” he said in the production report.

The announcement came a day after the group's subsidiary Anglo American South Africa Ltd was hit by a class-action lawsuit on behalf of estimated 100,000-plus individuals in the Kabwe District of Zambia who are alleged to be suffering from lead poisoning from the mine formerly known as Broken Hill, which was part-owned by Anglo from 1925 to 1974.

A company spokesperson has told media that Anglo American has never been a majority owner of the Kabwe mine.

Proactiveinvestors

[florenceorbis] 22/10/2020 08:29

CITY.A.M


Thursday 22 October 2020 7:49 am
Anglo American sees production grow 24 per cent in third quarter
Harry Robertson

Mining giant Anglo American said it had seen a “strong operational recovery” in the third quarter, with a 24 per cent increase in production compared to the previous quarter.

“We are currently operating at about 95 per cent of our normal capacity,” Anglo American chief executive Mark Cutifani said in the company’s latest production report.

Read more: Gold miner Petropavlovsk slashes production forecasts

“We have also seen encouraging improvement in demand for rough diamonds as we approach the holiday selling season, although there is still some uncertainty in terms of the timing of a sustained recovery.”

It comes the day after the South Africa and UK-based miner was hit by a potentially huge lawsuit concerning the alleged poisoning of soil and water around Kabwe, an enormous lead mine in South Africa.

Anglo American controlled the mine until 1974. But the filing says Anglo failed to clean it up, leaving dangerous levels of lead. The miner said it would review the claims and “take all necessary steps to vigorously defend its position”.

The company’s diamond production hit 7.2 million carats in the third quarter of 2020. That was down 4 per cent year on year but roughly double the total produced in the previous quarter.

Nonetheless, overall diamond production was still 20 per cent down for the year.

Copper production increased year on year in the third quarter. Anglo American produced 165,700 tonnes, up four per cent compared to the same period a year earlier.

That meant production in 2020 so far was the same as a year earlier.

Platinum production was down two per cent year on year in the third quarter. Meanwhile, palladium production matched 2019 levels.

Anglo left its diamond production guidance for the year unchanged at 25m to 27m carats. It altered its copper guidance to 630,000 to 660,000 tonnes, from 620,000 to 670,000 tonnes previously.

It increased its platinum production guidance, but lowered its thermal coal target.

[florenceorbis] 22/10/2020 08:05

10/22/2020 | 07:46am BST

By Jaime Llinares Taboada

Anglo American PLC on Thursday reported an on quarter increase in production for the third quarter and downgraded full-year guidance for thermal coal as strikes in Colombia are disrupting operations.

The FTSE 100 mining giant said that production increased 24% on quarter in the three months ended Sept. 30, after excluding the impact of the Grosvenor suspension. However, output was still running behind the numbers seen in the third quarter of 2019 for most of the commodities the group produces.

Diamond production fell 4% from a year earlier, platinum edged down 2% and palladium was flat. Iron ore declined 9% in South Africa and 18% in Brazil. Metallurgical coal slumped 26% and thermal coal was down 11%. Nickel production fell 10%.

Copper output rose 4% year-on-year driven by the Collahuasi operation in Chile and manganese was up 3%.

In addition, Anglo American cut its full-year production guidance for export thermal coal to 19 million metric tons from the previous 21 million tons due to strikes in Colombia.

The company also increased its forecasts for platinum to 1.7 million ounces-1.8 million ounces from 1.5 million ounces-1.7 million ounces. Palladium forecasts were also raised to 1.1 million ounces-1.2 million ounces from 1.0 million ounces-1.2 million ounces. For copper, the full-year production has been tightened to 630,000 metric tons-660,000 tons from 620,000 tons-670,000 tons.

Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT

(END) Dow Jones Newswires

10-22-20 0245ET

[philanderer] 20/10/2020 14:21

Copper price hits 28 month high.

China’s refined copper output jumped by 10.3% in September

[adrian j boris] 14/10/2020 08:35

Anglo American PLC said Wednesday that its subsidiary De Beers Group expects to report diamond sales of $467 million during the current sales cycle, as demand for rough stones improves steadily.

The FTSE 100 mining company said the $467 million revenue is for the period between Sept. 21 and Oct. 9. This would be up from $297 million a year earlier, and from $334 million in the seventh cycle of 2020--which ran from Aug. 19 until Sept. 10.

Anglo American said it has implemented a more flexible approach to rough-diamond sales in the period, with the "sight," or sales, event extended beyond its normal duration.

"We continue to see a steady improvement in demand for rough diamonds in the eighth sales cycle of the year, with cutters and polishers increasing their purchases as retail orders come through ahead of the key holiday season," De Beers Group Chief Executive Bruce Cleaver said.

Anglo American owns 85% of De Beers Group.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

October 14, 2020 02:46 ET (06:46 GMT)

[waldron] 09/10/2020 17:28

Gold COMEX 1,926.10 +1.64%
Silver COMEX 24.83 +3.59%
Platinum NYMEX 894.80 +3.56%
Copper COMEX 3.08 +1.33%
Brent Crude Oil NYMEX 43.53 +0.44%
Gasoline NYMEX 1.20 -0.42%
Natural Gas NYMEX 3.23 +2.80%
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Ftse Mib
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Rio Tinto
4,800.5 +1.29%



Bhp
1,666.6 +1.23%



Anglo American
1,950.4 +3.54%



Glencore
173 +1.90%

[philanderer] 07/10/2020 11:36

JPMORGAN RAISES ANGLO AMERICAN PRICE TARGET TO 2650 (2400) PENCE - 'OVERWEIGHT'

[ariane] 07/10/2020 11:34

Regulatory News:



Total (Paris:FP) (LSE:TTA) (NYSE:TOT):



A group of the world's largest energy, agriculture, mining, and commodity trading companies will for the first time assess and disclose the climate alignment of their shipping activities. United Nations agencies estimate the international shipping industry to carry around 80% of world trade flows and to be responsible for 2-3% of global greenhouse gas emissions annually.



Large industrial corporations are significant users of international shipping services. The shipping of crude oil, coal, iron ore, grain and other bulk commodities used worldwide make up over 80% of global seaborne trade. The Sea Cargo Charter is a global framework that allows for the integration of climate considerations into chartering decisions to favor climate-aligned maritime transport.



The Sea Cargo Charter establishes a common baseline to quantitatively assess and disclose whether shipping activities are aligned with adopted climate goals. The Sea Cargo Charter is consistent with the policies and ambitions adopted by member states of the International Maritime Organization (IMO), a specialized agency of the United Nations responsible for regulating shipping. This includes its ambition for greenhouse gas emissions from international shipping to peak as soon as possible and to reduce shipping's total annual greenhouse gas emissions by at least 50% of 2008 levels by 2050, with a strong emphasis on zero emissions.



"Total shares the ambition to get to net-zero emissions by 2050, together with society, for its global operations. As a broad energy company, we are actively working on improving the environmental footprint of the maritime industry. By becoming today a founding member of the Sea Cargo Charter, we reaffirm our support to this key sector. This pioneering initiative will provide a transparent standard emissions reporting approach and will pave the way for a sustainable shipping industry." underlines Luc Gillet, Senior Vice President Shipping, Total Trading & Shipping.



"A standard greenhouse gas emissions reporting process will simplify some of the complexities often associated with reporting. It will encourage a more transparent and consistent approach to tracking emissions, which will be a critical part of making shipping more sustainable," says Jan Dieleman Chair of the Sea Cargo Charter drafting group.



The 17 Founding Signatories of the Sea Cargo Charter include Anglo American, ADM, Bunge, Cargill Ocean Transportation, COFCO International, Dow, Equinor, Gunvor Group, Klaveness Combination Carriers, Louis Dreyfus Company, Norden, Occidental, Shell, Torvald Klaveness, Total, Trafigura, and Ørsted. All other responsible shippers are invited to join the initiative.



"The Sea Cargo Charter enables leaders from diverse industry sectors to use their influence to drive change and promote shipping's green transition by choosing maritime transport that is aligned with agreed climate targets over that which is not," says Johannah Christensen, Managing Director, Head of Projects & Programmes at international non-profit, Global Maritime Forum.



The Sea Cargo Charter is intended to evolve over time as the IMO adjusts its policies and regulations and when further adverse environmental and social impacts are identified for inclusion. They also aim to support other initiatives developed to address climate, environment, and social risks in shipping, such as the Poseidon Principles.



The Sea Cargo Charter is applicable to bulk charterers with interest in the cargo on board; those who simply charter out the vessels they charter in; as well as the disponent owners and all charterers in a charterparty chain. They apply globally, to all chartering activities where a vessel or vessels fall under the purview of the IMO.



The development of the Sea Cargo Charter has been led by global shippers -- Anglo American, Cargill Ocean Transportation, Dow, Norden, Total, Trafigura -- and leading industry players -- Euronav, Gorrissen Federspiel, Stena Bulk -- with expert support provided by the Global Maritime Forum, Smart Freight Centre, University College London Energy Institute/UMAS, and Stephenson Harwood.



About Total



Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.



* * * * *

[waldron] 02/10/2020 17:15

Gold COMEX 1,908.40 -0.41%
Silver COMEX 24.01 -1.03%
Platinum NYMEX 892.90 -1.45%
Copper COMEX 2.98 +3.93%
Brent Crude Oil NYMEX 39.69 -3.03%
Gasoline NYMEX 1.11 -2.04%
Natural Gas NYMEX 2.99 -0.93%
WTI 37.559 USD -2.34%


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Ftse Mib
19,018.9 -0.22%



Rio Tinto
4,694 +0.98%



Bhp
1,654.6 +0.55%



Anglo American
1,870 -0.52%



Glencore
161.76 +1.49%

[philanderer] 01/10/2020 10:14

DEUTSCHE BANK RAISES ANGLO AMERICAN PRICE TARGET TO 2,600 (2,500) PENCE - 'BUY'