Anglo American Share Discussion Threads

[philanderer] 24/2/2021 09:50

BERENBERG RAISES ANGLO AMERICAN PRICE TARGET TO 3,100 (2,800) PENCE - 'BUY'

[philanderer] 23/2/2021 13:37

Green hydrogen to be produced from solar power at platinum mine


JOHANNESBURG (miningweekly.com) – Although platinum group metals (PGMs) mining and marketing company Anglo American Platinum will be starting with a 75 MW solar photovoltaic powered plant at its Mogalakwena mine, planned is an eventual 320 MW of solar power generation, the excess from which will be used to produce green hydrogen.

This was confirmed by Anglo American Platinum CEO Natascha Viljoen in a Zoom interview with Mining Weekly on Monday

[philanderer] 22/2/2021 14:20

Anglo American Platinum said production was hit by lockdowns and the temporary closure of the Anglo Converter Plant during 2020, causing a 14% decline in output, but that it was set up for a strong recovery in 2021.

FTSE 100-listed Anglo American owns over 78% of Anglo American Platinum, which produces a wide range of commodities in South Africa and neighbouring countries.

CITYINDEX.CO.UK

[waldron] 22/2/2021 07:14

Anglo American Platinum Ltd. on Monday reported a 64% increase in basic earnings for 2020, and said production will return to precoronavirus levels this year.

The South African precious-metals miner--which is majority-owned by Anglo American PLC--achieved basic earnings of 30.3 billion rand ($2.06 billion) in 2020, up from ZAR 18.5 billion in 2019. Headline earnings were also ZAR30.3 billion, in line with the company's own guidance of ZAR27.8 billion-ZAR31.4 billion.

Refined production of platinum, palladium, rhodium, iridium, ruthenium and gold fell 42% year-on-year, but this was more than offset by stronger realized prices. Revenue rose 38% to ZAR137.8 billion.

The group declared an ordinary dividend of ZAR45.58 a share, up from ZAR27.60 in 2019, when it had also paid an special dividend of ZAR25.00.

For 2021, AA Platinum expects refined production to rise to prepandemic levels of 4.6 million-5.0 million ounces from 2.71 million in 2020, with unit costs of between ZAR11,000 and ZAR11,500 and ounce.

In addition, the company on Monday released an strategy update including targets to achieve carbon neutrality across scope 1 and 2 emissions by 2040, and a mining Ebitda margin of 35%-45% by 2030.



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



(END) Dow Jones Newswires

February 22, 2021 01:50 ET (06:50 GMT)

[philanderer] 19/2/2021 15:06

AAL results next thursday.

[philanderer] 16/2/2021 11:35

Read across from GLEN results.

[philanderer] 15/2/2021 15:07

Anglo American, which is due to report its full year results on February 25, has a consensus forecast of $9.4bn in EBITDA for 2020 with strong showings from its copper and platinum group metal assets, notwithstanding disruptions to the latter’s productions last year.

Whilst this is largely in line with 2019, Citi rates the company as having the best fundamentals of the diversifies for the current year. “AAL [Anglo American] is likely to see best earnings growth in 2021 from its exposure to iron ore, PGMs and copper while recovery in diamonds is continuing to strengthen,” the bank said.

Morgan Stanley said first cycle diamond sales by De Beers, in which Anglo has an 85% stake, provided “… further evidence that a demand recovery is well underway” in the diamond industry and underpinned strong profit recovery for De Beers.

It forecast an EBITDA of $929m from Anglo’s diamond business this year compared to £127m in 2020. The “full normalisation” of diamonds represented an EBITDA opportunity for Anglo American of about $900m and was “an important pillar” in Morgan Stanley’s view of being overweight on Anglo American.

[philanderer] 08/2/2021 15:06

Is the world on the brink of a metals supercycle?

Major infrastructure spending and the drive for green cars and appliances could fuel a years-long boom in demand for commodities

[philanderer] 08/2/2021 14:37

JPMORGAN RAISES ANGLO AMERICAN PRICE TARGET TO 3,000 (2,900) PENCE - 'NEUTRAL'

[philanderer] 05/2/2021 12:05

BERENBERG INITIATES ANGLO AMERICAN WITH 'BUY' - TARGET 2800 PENCE

[maywillow] 03/2/2021 08:36

Anglo American PLC said Wednesday that rough-diamond sales by its majority-owned De Beers Group were 44% higher in the first sales cycle of 2021 compared with the previous cycle, as customers restocked after a strong holiday period.

The diversified mining company said diamond sales are being supported by an expected demand ahead of the Chinese New Year and Valentines Day.

"While risks to recovery as a result of ongoing restrictions on the movement of both people and goods persist, we have been encouraged by demand conditions," De Beers Chief Executive Bruce Cleaver said.

De Beers sold $650 million of diamonds in the first cycle of the year compared with $452 million in the 10th last year, and $551 million in the first cycle of 2020. There are 10 sales cycles each year.

Anglo American said sales for the first cycle are provisional figures due to a change in the company's approach to diamond sales because of pandemic-related movement restrictions around the globe. The figures are based on expected sales between Jan. 18 and Feb. 2.



Write to Ian Walker at [e-mail]



(END) Dow Jones Newswires

February 03, 2021 02:40 ET (07:40 GMT)

[philanderer] 01/2/2021 12:17

UBS RAISES ANGLO AMERICAN PRICE TARGET TO 2,500 (2,400) PENCE - 'NEUTRAL'

[sarkasm] 28/1/2021 08:05

Anglo American PLC said Thursday that its production recovered to 95% of 2019 rates in the second half of 2020, and cut its diamond-output forecast for 2021.

The FTSE 100 mining company reported full-year output drops across most of the commodities it produces, as the coronavirus pandemic disrupted operations and hurt demand.

Diamond production decreased 18% to 25.1 million carats. Copper rose 1% to 647,000 metric tons as the Los Broncos mine in Chile secured access to industrial water. Platinum group metals output fell 14% to 3.8 million ounces.

Iron ore declined 7% to 61.1 million tons despite production increases in Brazil. Metallurgical coal plunged 26% to 16.8 million tons, and thermal coal declined 22% to 20.6 million tons.

As for 2021, Anglo American cut its diamond-production forecast to 32 million-34 million carats, from the previous 33 million-35 million carats projection.



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



(END) Dow Jones Newswires

January 28, 2021 02:34 ET (07:34 GMT)

[philanderer] 27/1/2021 10:32

Miners boll*xed this morning

[florenceorbis] 23/1/2021 09:53

Vale targets coal exit as it prepares sale of Moatize mine in Mozambique

MiningCoal

By Andrew Fawthrop 21 Jan 2021

The Brazilian miner will acquire a partner's 15% share in Moatize coal mine, ahead of a planned divestment of the entire project and its associated infrastructure
mining truck 2

Japanese firm Mitsui has sold its interests in the venture back to Vale for a nominal fee

Vale has taken its first step towards exiting the coal market, striking a deal that will advance the sale of its Moatize mine in Mozambique.

The Brazilian miner agreed to acquire a 15% stake in the venture held by Japanese trading company Mitsui for a token fee ($1), as well as Mitsui’s interests in the Nacala Logistics Corridor (NLC) being constructed to service the mine – with a view to consolidating both operations ahead of a future sale.

The agreement anticipates Mitsui’s exit from the project can be completed this year, after which Vale will begin searching for a “third party interested in those assets”.

It added it will maintain “operational continuity” during this process, supporting the project’s ramp-up and keeping commitments to various stakeholders, including local labour and resettlement agreements.


Vale says mine upgrades will allow Moatize to produce 18 million tonnes of coal per year by 2022

Moatize is Vale’s largest venture in the coal sector, and has been operational since 2011.

In 2017, Mitsui paid $690m for the 15% interest in the mine, as well as a 50% interest in the NLC project to provide port and rail infrastructure.

Vale is currently implementing upgrades at the facility, which it expects will increase production rates to 15 million tonnes per year in the second half of 2021 and 18 million tonnes per year by 2022.

The combined mine and infrastructure assets have outstanding debt totalling $2.5bn, which Vale says it will reclassify to financial expenses, debt amortisation and sustaining capital.

“Future refinancing of the project finance and simplification of the structure will lead to potential annual savings of approximately $25m,” the company said in statement.

Analysts suggest Vale may look to Chinese buyers to offload the venture, according to reports, given the ongoing trade tensions between Beijing and Australian coal exporters.


Mining majors increasingly looking to a coal-free future

The move underscores a growing shift away from coal assets among the world’s biggest mining companies, as the fossil fuel is gradually phased out of the global energy mix, and investors increasingly demand environmental commitments from corporate leadership.

Vale said the planned divestment is “in line with the focus on its core businesses and ESG agenda, committed to becoming carbon-neutral by 2050 and reducing 33% of its Scopes 1 and 2 emissions by 2030”.

BHP has confirmed similar plans to divest its coal-producing assets, including the huge Mount Arthur mine in Australia – and yesterday confirmed a writedown of $1.15bn-$1.25bn on its New South Wales Energy Coal unit as it seeks to offload the venture.

Anglo American plans to divest its South African thermal coal operations by 2023, while Rio Tinto has already completed its coal exit, selling the last of its coal mines in 2018.

Glencore recently pledged an extensive decarbonisation agenda, although says “responsible stewardship” and reduction of its coal portfolio will be the priority, rather than a rush to abandon all of its coal assets.

[philanderer] 22/1/2021 15:09

Q4 production report next thursday

[philanderer] 22/1/2021 11:59

Anglo American’s mix’n’match success

While all the majors are doing well, investors should pick mining holdings for resilience as well as cash flow

[philanderer] 19/1/2021 19:37

'Why iron ore will stay strong this year even if Chinese demand falls off'

[philanderer] 18/1/2021 11:49

DZ BANK RAISES ANGLO AMERICAN PRICE TARGET TO 1,700 (1,310) PENCE - 'SELL'

[philanderer] 14/1/2021 12:03

Indeed :-)

GOLDMAN SACHS RAISES ANGLO AMERICAN TO 'BUY' ('NEUTRAL') - TARGET 3,500 (2,400) PENCE

JPMORGAN CUTS ANGLO AMERICAN TO 'NEUTRAL' ('OVERWEIGHT') - TARGET 2,900 (2,850) PENCE

[foxy22] 14/1/2021 08:21

Gs target 3500 buy!

[philanderer] 13/1/2021 13:10

DEUTSCHE BANK RAISES ANGLO AMERICAN PRICE TARGET TO 3,000 (2,600) PENCE - 'BUY'

[waldron] 08/1/2021 20:11

Rio Tinto
6,310 +0.00%



Bhp
2,221.5 +0.91%



Anglo American
2,823 +0.14%



Glencore
276.45 -0.75%

[philanderer] 07/1/2021 12:33

RBC CUTS ANGLO AMERICAN PRICE TARGET TO 3,200 (3,400) PENCE - 'OUTPERFORM'

BARCLAYS CUTS ANGLO AMERICAN PRICE TARGET TO 2,820 (2,920) PENCE - 'OVERWEIGHT'