Anglo American Share Discussion Threads

[eggbaconandbubble] 17/1/2022 18:18

Dream on chum!

[mreasygoing] 17/1/2022 16:30

I'll be buying these at £2.00 in the coming economic bust in a year's time. Maybe slightly less.

[casket1] 17/1/2022 15:05

Yeh, think i'd prefer the RBC rating to the Barclays one, who are already 350 off the pace to start with.......

[eggbaconandbubble] 17/1/2022 10:44

That's more like it ;-)

[philanderer] 17/1/2022 10:31

RBC RAISES ANGLO AMERICAN PRICE TARGET TO 4,000 (3,150) PENCE - 'OUTPERFORM'

[philanderer] 13/1/2022 12:06

BARCLAYS RAISES ANGLO AMERICAN TARGET TO 3,000 (2,550) PENCE - 'EQUAL WEIGHT'

[waldron] 11/1/2022 16:02

Glencore completes buyout of Cerrejon coal mine from Anglo and BHP

[philanderer] 11/1/2022 11:33

DEUTSCHE BANK RAISES ANGLO AMERICAN PRICE TARGET TO 3,500 (3,300) PENCE - 'BUY'

[philanderer] 07/1/2022 12:22

BERENBERG CUTS ANGLO AMERICAN PRICE TARGET TO 3,300 (3,700) PENCE - 'BUY'

[waldron] 29/12/2021 09:03

proactive


Oliver Haill

07:16 Wed 29 Dec 2021


Anglo American confirms talks with Vale about developing site adjoining Minas-Rio mine

Minas-Rio produced 17,596k metric tonnes of iron ore in the three quarters of 2021 reported to date
-

Anglo American PLC (LSE:AAL) said it is in talks with Brazilian mining colossus Vale about jointly developing the land next door to its Minas-Rio iron ore operation in the country.

The FTSE 100 diversified miner confirmed the preliminary discussions have taken place about “the potential” to develop Vale's Serpentina iron ore resource.

“These discussions are preliminary in nature and there can be no certainty that any agreement will be reached or, if any agreement is reached, on the terms or scope of any such agreement,” Anglo said in a statement.

Minas-Rio, which has produced 17,596k metric tonnes of iron ore in the three quarters of 2021 reported to date, is one of the largest iron ore mines in the world and has been one of the major growth projects for the company in the past decade.

Anglo owns 100% of the mine and 50% of the integrated port facility nearby.

[waldron] 27/12/2021 23:22

Vale eyes stake in Anglo American’s Brazilian iron ore project

24 Dec 2021 (Last Updated December 24th, 2021 11:19)

The acquisition would support Vale’s plan to boost its annual iron ore production capacity to 400 million tonnes.

Brazilian miner Vale is reportedly looking to buy a stake in Minas-Rio iron ore project located in the Brazilian state of Minas Gerais, from Anglo American.

Vale is considering acquiring a stake of 30-40% in the iron ore project, which includes open pit mines and a beneficiation plant, reported Bloomberg News citing one of the people knowledge with the matter.

The Brazilian miner may even pursue operatorship stake in the project.

If materialised, the acquisition is expected to support Vale’s plan of boosting its annual iron ore production capacity to 400 million tonnes and strengthen its position as a top supplier of premium iron ore.

Preliminary discussions between the parties started in 2020. However, the talks have not advanced enough to be presented to the firms’ boards. Therefore, a deal is still not certain, according to the sources.

Located in the south-eastern region of Brazil, the project also comprises a 529km pipeline, filtering plant and an export terminal at the Atlantic port of Acu in Rio de Janeiro state.

The Minas-Rio fully integrated export iron ore project is 100% owned by Anglo American’s subsidiary Iron Ore Brazil.

With 26.5 million tonnes a year production capacity, the project was purchased by Anglo American in 2008 from MMX Mineracao e Metalicos SA.

[woodyjmw] 19/12/2021 13:05

I find the following statement slightly strange:
We expect to have completed our design engineering, capital budget and schedule at the end of 2022, with a fully optimised value case that recognises the upside potential we see in Woodsmith, and we will then submit the full project to the Board.'

With £700m being invested in this coming year, what design engineering can possibly be left? If the design isn’t right now, how can they be spending so much on the build? It will be much more expensive to make amendments later. Production should be in around 2024, so there can’t be significant amendments to make after next year?

[waldron] 19/12/2021 05:39

Activist Investor Push To End Coal Mining Is Backfiring
By Editorial Dept - Nov 13, 2021, 10:00 AM CST

Climate activists and impact investors have seen their plans to end coal mining turn into exactly the opposite
The push to end coal mining has made several mines more valuable in the face of robust global coal demand
Miners that were planning mine shutdowns have extended the production life of their assets

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The obvious case for allowing the free market to make decisions in industries like energy is that, when changes are forced instead of adopted naturally (usually via laws or government subsidies), they often work against the interests of efficiency.

That's a lesson several companies found out first hand. In fact, Bloomberg writes there is now a "growing unease among climate activists and some investors that the policy many of them championed could lead to more coal being produced for longer".

For example, Anglo American Plc, one of the world’s most powerful mining companies, has become "a case study in unintended consequences" after climate activists and investors urged it to stop digging up coal, Bloomberg reported this week. Now, it has transformed mines that were one set for closure into "the engine room for a growth-hungry coal business".

Anglo American CEO Mark Cutifani had seen Rio Tinto sell off its coal mines and had a plan to shut down its seven South African mines. But the company wasn't taking action fast enough for activists and investors, so Anglo spun off another company called Thungela and tucked its coal operations into the SpinCo. Investors could then "decide for themselves" if they wanted to hold or sell shares of the SpinCo.

The SpinCo Chief Executive Officer, July Ndlovu, then announced they were looking to grow their coal production, not shrink it.

“I didn’t take up this role to close these mines, to close this business,” Ndlovu said. Its South African mines have the potential to add a decade or more of mining, producing more than 10 million tons of coal per year.

BHP Group, a rival company, had trouble selling a colliery earlier this year so it applied to extend mining at the site for another two decades. It was thought of as a way to sweeten a deal to sell the mine, but may wind up turning into BHP simply mining at the site for longer than expected. Investors continue to bring up BHP's exit strategy from the mines as a point of contention.

Related: Can U.S Shale Drillers Help Prevent An Energy Crunch?

“The big push from investors is around ensuring that any divestment that occurs is to parties that are responsible,” BHP CEO Mike Henry said.

Glencore Plc announced earlier this year it would increase its ownership of a large Colombian coal mine after seeking out the opinions of activists, the report says. The company has promised to end its coal operations by 2050, but has also prepared "contingency" plans in the event investors "force it".

Nick Stansbury, head of climate solutions at Legal & General Group Plc, told Bloomberg: “Everyone in the industry is starting to be more sophisticated, more nuanced and more careful on the way they think these issues through.”

Ashley Hamilton Claxton, the head of responsible investment at Royal London Asset Management, concluded by stating that fossil fuel companies should hold on to their coal assets and manage their decline: “Selling the problem to a third party has unintended consequences. We need to shift the debate in the investment industry about being more sophisticated around these things.”

More Top Reads From Oilprice.com:

[waldron] 13/12/2021 10:29

Anglo American PLC said Monday that it will work with Aurizon Holdings Ltd. to assess the introduction of hydrogen-powered trains for bulk freight in Queensland, Australia.

The mining giant and Aurizon, an Australian freight company, have agreed to explore the application of Anglo American's hydrogen fuel cell and battery hybrid power units in heavy-haul rail freight operations, it said.

If this study is successful, the collaboration could be extended to develop a haul-locomotive prototype.

The project will focus on the Moura and Mount Isa rail corridors in Australia.



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



(END) Dow Jones Newswires

December 13, 2021 04:48 ET (09:48 GMT)

[waldron] 10/12/2021 17:40

Mining giant Anglo American declares major changes to former Sirius Minerals project in Yorkshire

Polyhalite is a mineral that is highly valued for its ability to fertilise crops

Anglo American plans to invest c.$700m next year on the Woodsmith project

Tom Culley is to become the next CEO of Anglo American's Crop Nutrients arm

By Harry Wise For This Is Money

Published: 17:10 GMT, 10 December 2021 | Updated: 17:20 GMT, 10 December 2021



Mining giant Anglo American has announced a series of leadership and developmental changes to the former Sirius Minerals project in North East England.

The firm said it has nearly completed a review into the Woodsmith polyhalite project, which is being overseen by its Crop Nutrients business and has identified specific measures that are needed to enhance the site's safety and economic value.

These include the sinking of two mine shafts, and the development of the underground mining area to make room for expanded production capacity and the use of continuous miner machines.

Gigantic project: The Woodsmith Mine has the largest known deposit of polyhalite in the world and could potentially provide £100billion of economic benefit to the UK over a 50-year period


It plans to invest around $700million next year on the project, which was formerly run by Sirius Minerals until Anglo American bought the cash-strapped company in a £405million deal in March 2020.

The FTSE 100 multinational also revealed today that Tom Culley, the head of its Peruvian division, will oversee the project as he is to replace Chris Fraser as the chief executive of Crop Nutrients from the start of January.

Polyhalite is a mineral containing multiple nutrients such as potassium, calcium and sulphate that is not just highly valued for its ability to fertilise crops but for being a naturally-occurring product with a low-carbon footprint.


Yorkshire-based Woodsmith has the largest known deposit of polyhalite in the world and could potentially provide £100billion of economic benefit to the UK over a 50-year period.

Outgoing Anglo American chief executive Mark Cutifani said: 'This is a very long-life asset, and we are going to take the necessary time to get every aspect of the design right to match our long term vision and value aspirations.

'We have said from the outset that we expect to make improvements and that we will execute certain elements of the construction differently and with a more conservative schedule.


'We expect to have completed our design engineering, capital budget and schedule at the end of 2022, with a fully optimised value case that recognises the upside potential we see in Woodsmith, and we will then submit the full project to the Board.'

Alongside the announcement about Woodsmith, Anglo American confirmed its guidance for 2021 following a solid performance by the group.

Production is to rise by 7 per cent and unit costs are to increase by 10 per cent this year, while capital expenditure will decline $5.2billion on the back of issues with its supply chain and delays caused by the coronavirus.

Next year, meanwhile, it estimates unit costs to grow by 4 per cent and capital spending of between $6.2billion and $6.7billion, partly as a result of spending related to deferrals and the Woodsmith project.

Beyond that, the FTSE 100 miner, which is the globe's largest platinum producer and owns the well-known De Beers diamonds company, said it expected to deliver 35 per cent growth over the next decade at margins of 50 per cent.

It forecast a stronger performance in 2022, while planning to harness early copper production from Quellaveco, a $5billion project in one of the world's largest untapped copper resources.

The project in world's second copper producer is due to start up amid change in Peru, where a new leftist administration led by President Pedro Castillo has pledged to overhaul the mining industry and redistribute mineral wealth.

Shares in Anglo American closed trading 1.9 per cent lower at £29.16 on Friday, but their value is still up by about 14 per cent since the beginning of the year.

[waldron] 10/12/2021 17:30

Anglo American PLC on Friday downgraded its production outlook for platinum group metals, iron ore, metallurgical coal and nickel.

As part of a presentation to investors, the miner provided detailed guidance for 2021-24. Taking the mid-points of the guidance ranges provided, platinum group metals production is expected to stay at 4.3 million ounces a year until at least 2024. This represents a downgrade from previous expectations of 4.4 million ounces for both 2022 and 2023.

As for iron ore, production is expected to total 194.5 million metric tons in 2021-23, down from previous expectations of 199.5 million tons. In 2024 Anglo American expects it to rise to 67 million-71 million tons.

Meanwhile, metallurgical coal output is expected to increase more slowly than expected. The outlook for this year was reaffirmed at 15 million tons. However, the company now forecasts production to total 44 million tons over 2022 and 2023, down from 47 million tons previously. Annual coal output would then rise to 24 million-26 million tons in 2024.

Nickel guidance has been reduced to 125,000 tons in 2021-23 from the previous 134,000 tons, before reaching 42,000-44,000 tons in 2024.

Finally, copper production guidance has been narrowed down for 2022 and raised for 2023, whilst the outlook for diamonds stays unchanged.

Shares at 1138 GMT were down 0.9% at 2,946 pence.



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



(END) Dow Jones Newswires

December 10, 2021 07:07 ET (12:07 GMT)

[grupo guitarlumber] 10/12/2021 08:57

proactive


John Harrington

08:10 Fri 10 Dec 2021

)
Anglo American upgrades scope of former Sirius Minerals potash mine

"As we move towards full project execution, it is a natural time for Chris [Fraser] to step into a new role and I'm pleased that we will benefit from his experience as he works with us on a number of strategic projects"


Anglo American PLC (LSE:AAL) upgraded the scope of the Woodsmith project, the once headline-grabbing North Yorkshire Moors polyhalite fertiliser project developed by Sirius Minerals.

The FTSE100 mining giant took control of Woodsmith in April 2020 when it acquired Sirius Minerals for £460mln. It has now largely completed a detailed technical review of the project that confirmed the findings of the company’s due diligence.

The review identified elements of the project’s design that would benefit from modification to bring it up to Anglo American's safety and operating integrity standards and to optimise the value of the asset for the long term, Anglo said in a stock market announcement.

Anglo American is also making a change to the leadership of the project following its integration into Anglo American and ahead of the full project execution phase. Tom McCulley, who has led the development of the Quellaveco copper project in Peru, will take over from Chris Fraser as chief executive officer (CEO) of Crop Nutrients. After 12 years of driving the project from inception to its position today, Chris Fraser, the former CEO of Sirius Minerals, will step aside and take on a role focused on strategic projects.

"We are very happy with the high quality and exciting potential of Woodsmith, with the scale and quality of the polyhalite orebody pointing to a Q1 [first-quarter] operating cost position and strong margins. This is a very long-life asset and we are going to take the necessary time to get every aspect of the design right to match our long term vision and value aspirations,” Mark Cutifani, the CEO of Anglo American said.

"We have said from the outset that we expect to make improvements and that we will execute certain elements of the construction differently and with a more conservative schedule. We expect to have completed our design engineering, capital budget and schedule at the end of 2022, with a fully optimised value case that recognises the upside potential we see in Woodsmith, and we will then submit the full project to the board,” he added.

[waldron] 10/12/2021 08:02

Anglo American PLC said Friday that a review of its Woodsmith polyhalite fertilizer project in England confirmed that its design would benefit from modifications.

The mining company has now appointed Tom McCulley to lead the project, and said that those proposed changes would bring Woodsmith up to Anglo American's safety and operating integrity standards, and would also help optimize the value of the project for the long term.

Anglo American said these changes will result in a different and enhanced configuration, and therefore a different construction and production ramp-up schedule.

The company expects to have completed a design engineering, capital budget and schedule at the end of 2022.

"In the meantime, construction of the major critical path elements of the project, principally the two main shafts and the mineral transport tunnel, is progressing, with approximately $0.7 billion of capital expected to be invested in 2022," Chief Executive Mark Cutifani said.



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



(END) Dow Jones Newswires

December 10, 2021 02:44 ET (07:44 GMT)

[waldron] 10/12/2021 07:53

(MT Newswires) -- Anglo American's (AAL.L, AAM.SW) overall production in 2021 climbed 7% year over year and it expects the performance to improve further in 2022.

The diversified miner said Friday the increase was driven by strong performance in the platinum group metals segment and an increase in demand for rough diamonds. The unit costs climbed 10% in the year and are expected to increase 4% in 2022.

The company expects a capital expenditure of $6.2 billion to $6.7 billion in 2022.

[capitol2] 07/12/2021 15:54

Wording in gdr share rns previous Monday on new high speed covid test next news expected with in days