Anglo American Share Discussion Threads

[philanderer] 21/7/2022 09:45

Not gone down well at all.

[waldron] 21/7/2022 09:13

Anglo American PLC on Thursday downgraded its 2022 steelmaking coal guidance, raised the production outlook for diamonds and improved forecasts on dollar-denominated platinum group metal costs.

The FTSE 100 multinational mining company cut 2022 coal production guidance to 15 million to 17 million metric tons from 17 million to 19 million tons, and increased cost expectations to $110 a ton from $105 a ton, reflecting the timing of a ramp-up in longwall mining.

In addition, Anglo American raised its 2022 production guidance for diamonds to 32 million-34 million carats from 30 million-33 million previously, due to robust demand and strong year-to-date operational performance.

The group also trimmed unit cost guidance for its platinum group metals operations to $950 an ounce from $970 on the back of a weaker South African rand.

Full-year guidance for copper, nickel and iron ore remains unchanged.

"Overall for the second quarter, production was 9% lower compared with the same quarter in 2021, primarily due to expected lower grades and water availability in copper, ramp-up of the Aquila longwall in steelmaking coal and planned maintenance at the Minas-Rio iron ore operation," Chief Executive Duncan Wanblad said.

Copper production fell 21% in the second quarter to 134,000 tons, coal output dropped 12% to 2.6 million tons and iron ore was 8% lower at 14.4 million tons. Production also fell 4% to 7.9 million carats for diamonds, 3% to 10,300 tons for nickel and 2% to 1.03 million ounces for platinum group metals. Manganese ore was 4% higher at 980,000 tons.

"Our production performance started to pick up in the second quarter of 2022, with operational momentum and our focus on asset resilience positioning us well for a stronger second half of the year," Mr. Wanblad said.



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



(END) Dow Jones Newswires

July 21, 2022 03:15 ET (07:15 GMT)

[philanderer] 20/7/2022 18:39

Q2 Production report tomorrow.

[philanderer] 16/7/2022 00:10

squinty, on a 12 month view I would say yes... but as always DYOR .

Haven't added myself but happy to hold what I've got.

[p0pper] 15/7/2022 15:10

I should think divi must be cut or no specials

[squintyflinty1] 15/7/2022 10:15

So Philanderer , is AAL a buy at this level with a 12 month view?

[philanderer] 15/7/2022 10:03

The Bloomberg Industrial metals index has slumped to a 17-month low, reports Ole Hansen, head of commodity strategy at Saxo:

The sell-off is led by copper which has suffered its worst weekly rout since the early stages of the pandemic in 2020 (see earlier post).

Hansen explains:

Since hitting a record high in March the price High Grade copper (HGc1) has slumped by 37% to levels last seen in late 2020. From a technical perspective, the price has reached support at $3.14, the 61.8% retracement of the 2020 to 2022 rally, and further weakness may trigger an additional selling response from traders

[squintyflinty1] 15/7/2022 07:32

I think we are swimming against the current now. The dividend is over 13%, but I just have a feeling that it’s going to go lower . I hope I’m wrong.

[squintyflinty1] 14/7/2022 13:36

I’ll be happy if it makes £30 again this year.

[philanderer] 14/7/2022 10:02

Goldmans cuts across the sector.


Goldman Sachs cuts Anglo American price target to 3,700 (5,100) pence - 'buy'

[grupo guitarlumber] 13/7/2022 15:25

Anglo American, Mitsubishi produce first copper concentrate from Quellaveco

By NS Energy Staff Writer 13 Jul 2022

The Peruvian copper project has been executed nearly on time and within budget, despite the Covid-19 pandemic


Anglo American and Mitsubishi have announced the first production of copper concentrate from their Quellaveco project in Peru, which has been developed with an investment of $5.5bn.

The mine is located in Southern Peru’s Moquegua Region.

Its construction, which began in 2018, was delayed due to the Covid-19 pandemic in early 2020. However, by implementing anti-infection and other precautionary measures over the past two years, the copper project was executed nearly on time and within budget, said Mitsubishi.

Quellaveco has ore reserves of around 8.9 million tonnes of contained copper.

With a mine life of around 36 years, the Quellaveco project is expected to have an annual production of nearly 300,000 tonnes of copper equivalent through open pit mining.

According to Anglo American, the first production of copper concentrate is a key milestone as the Quellaveco project nears completion prior to getting final regulatory clearance for commercial operations to start.

Presently, the commissioning phase of the project’s processing plant is going on. Once the final regulatory approval is obtained, product shipments will begin.

Anglo American Peru CEO Adolfo Heeren said: “Once in full operation, Quellaveco alone will increase Peru’s copper production by around 10%, and deliver sustainable benefits for decades to come, including 2,500 direct jobs, the incorporation of local suppliers into our supply chain, the increase of water sources for human consumption and irrigation, digital connectivity, the expansion of agricultural areas and tax revenues.

“By working together in partnership, we will deliver enduring positive outcomes for all our stakeholders.”

Anglo American has a 60% stake in the copper project, while the remaining 40% is held by Mitsubishi.

Mitsubishi, which is among Japan’s largest copper producers, expects to increase its attributable equity production post-Quellaveco by nearly 50% to 320,000-370,000 tonnes per annum.

[waldron] 12/7/2022 12:31

12 July 2022
Anglo American announces first copper production from Quellaveco
project in Peru



Anglo American plc ("Anglo American") announces first production of copper concentrate from its Quellaveco project in Peru - a major milestone as Quellaveco nears completion ahead of receiving final regulatory clearance for commercial operations to begin.

Tom McCulley, who has led Anglo American's development of Quellaveco, said: "First copper production at Quellaveco is a key milestone in our delivery of this world-class asset, on time and on budget. The fact that we are today producing copper less than four years after project approval, including through two years of considerable pandemic-related disruption, is testament to the strength of our commitment to our workforce, local communities, the Moquegua region and government stakeholders in Peru. This first production of copper concentrate marks the beginning of the normal period of testing the processing plant with ore and the ramping up of mining activities to demonstrate readiness for operations."

Adolfo Heeren, CEO of Anglo American in Peru, added: "Quellaveco is a project for all of Peru and especially for the Moquegua region. Once in full operation, Quellaveco alone will increase Peru's copper production by around 10%, and deliver sustainable benefits for decades to come, including 2,500 direct jobs, the incorporation of local suppliers into our supply chain, the increase of water sources for human consumption and irrigation, digital connectivity, the expansion of agricultural areas and tax revenues. By working together in partnership, we will deliver enduring positive outcomes for all our stakeholders."

[pcok] 12/7/2022 11:32

As a long suffering Sirius shareholder I wonder if anyone can update me on progress at the WoodSmith mine just outside Whitby. I have been looking to take a stake in the AAL journey as I see the opportunities presented by polyhalite as a substantial addition to the AAL resource bank.

[casket1] 11/7/2022 08:41

The share price or your I.Q. ?

[mansell59] 11/7/2022 08:23

This will go sub 20 in the next couple of weeks

[philanderer] 08/7/2022 09:40

Barclays cuts Anglo American price target to 3,175 (3,400) pence - 'equal weight'

[philanderer] 07/7/2022 10:35

Bank of America cuts Anglo American price target to 3,000 (4,200) pence - 'neutral'

Berenberg cuts Anglo American price target to 3,300 (4,000) pence - 'buy'

[sundial1] 06/7/2022 15:10

Soon be back up. world hooked on cheap debt, get them printing machines on !!

[foxy22] 05/7/2022 22:01

I waited that long!!!

[foxy22] 05/7/2022 20:24

Commodity shares are ok if u sell them at / near the top

[foxy22] 05/7/2022 20:24

It took 14 years to hit 34.00 again

[foxy22] 05/7/2022 20:22

Yes but do u remember when this wonderful share was at 4 quidAnd how long does it take to recover