Anglo American Share Discussion Threads

[philanderer] 22/2/2023 00:09

Anglo American sank 5.5 per cent, or 183.5p, to 3154p after its subsidiary Kumba Iron Ore said production forecasts for this year would not be reached until 2025 as a result of ongoing issues with South Africa’s state-owned freight transport Transnet.

[theapiarist] 21/2/2023 21:35

Eggs

I have it on good authority from an agronomist friend that Poly4 is superior to any competing product. It will come but I'm not sure I share your optimism on the timescale.

[eggbaconandbubble] 21/2/2023 21:15

Not quite sure if I'm with your meaning there, sundial!

Apiarist - we should be given an idea of when, on Thursday according to the Times article. But it can't be far away now. Touch wood.
Then 50 years of supplying the whole world with much needed fertiliser! Eliza!

[theapiarist] 21/2/2023 18:20

Eggs and bacon

Thanks for that.

I was aware of Stephen Pearce's announcement that construction of Woodsmith was being extended beyond the original target completion date. Hence my surprise when you stated earlier that it would be "up and running soon".

But, as far as I am aware, there has been no announcement of a planned completion date.

[eggbaconandbubble] 21/2/2023 17:21

From last Sunday's Times



Anglo American will this week lay out plans to bring a multibillion-pound fertiliser mine under the North York Moors National Park into production having rescued the project from the verge of collapse three years ago.

The FTSE 100 mining giant bought Sirius Minerals in March 2020 for £405 million after the latter failed to raise the finance needed to build the mine. But because most investors bought into Sirius at a much higher price, the rescue deal meant that about 85,000 local investors who ploughed their savings into the company lost everything.

Sirius, a former FTSE 250 company, worth close to £2 billion at its peak, predicted the mine would cost $3.3 billion to build, including a tunnel to Teesside where the polyhalite — a type of potash used for fertiliser — would be shipped around the world.

Anglo has never put a figure on how much the project will cost, but when it reports annual results on Thursday, it will reveal the amount it will take to reach production at the mine, called Woodsmith, and when that will happen. The sum is expected to top the $3.3 billion Sirius estimated back in 2019.

In December, finance director Stephen Pearce said the company planned to take longer building the mine and was increasing the budget so it can process larger volumes of polyhalite and extend its life. Anglo has said the project could run for 50 years. The company has also been widening the two mine shafts. All this means costs higher than Sirius’s estimates. Anglo had earmarked about $2.5 billion for the project.

The higher costs mean that Anglo is set to report a writedown on the carrying value of the project for accounting purposes.

Small shareholders who were persuaded to invest their personal money still feel “cheated”;, according to Paul Anscombe, a former investor who leads the Sirius Claim Group, which is still hoping to launch a legal challenge.

“People are bitter about seeing it being built around them,” said Anscombe, 58.

“It wouldn’t have got as far as it did without them because it wouldn’t have got through the planning processes. But more importantly, people still feel cheated.”

[eggbaconandbubble] 21/2/2023 17:16

Apiarist - there was an article about it last Sunday's Times. I'll see if I can copy and paste it.

[philanderer] 21/2/2023 16:54

Anglo American results on thursday, the bank is looking for the De Beers owner to maintain a 40% payout ratio and for the second half dividend to fall 60% on the previous half to 67 cents or $800 million (£660.6 million). It does not expect a special dividend as Anglo's net debt is likely to lift materially

ii.co.uk

[theapiarist] 21/2/2023 16:28

Eggs and Bacon

Do you have a target date for Woodsmith coming on stream?

[eggbaconandbubble] 21/2/2023 15:10

They're digging stuff out of the ground (and there's still loads of it left!) that will always be required.

Need one say more?

[philanderer] 21/2/2023 14:42

London-listed mining shares fell sharply after Antofagasta and BHP Group revealed significant profit slumps on the back of higher costs and lower commodity prices.

Chilean miner Antofagasta saw a 39 per cent fall in full-year profit to $2.9billion (£2.4billion), as high input costs, reduced copper output volumes, and a drought in the South American country hit production.

Meanwhile BHP, which is the world's largest miner, reported a steeper-than-expected 32 per cent fall in first-half profit, owing to a drop in iron ore prices.

BHP Group shares fell 2.7 per cent per cent, while Antofagasta shares slipped 2.6 per cent in early trading, dragging peers and the FTSE 350 mining index 2.2 per cent lower.

[eggbaconandbubble] 21/2/2023 10:52

All miners are down. BHP came out with some poor figs yesterday.

My take is it's cos the price of metals, coal, ores etc are down but soon to shoot up again as China wakes up after lock down.

Still AAL are due to get this fertiliser mine 'up North' up and running soon. Then hopefully that will be a very profitable cash cow.

[philanderer] 21/2/2023 10:22

Kumba results not gone down well.

[fuji99] 21/2/2023 08:49

Cheers flyfisher.

[flyfisher] 20/2/2023 10:11

Zambia lead pollution case.

[fuji99] 20/2/2023 09:01

flyfisher: What "current litigation" ?

[flyfisher] 13/2/2023 10:37

Yes, current litigation plus some sector weakness.

[vas007] 13/2/2023 10:05

Can anyone comment on the nose dive.

[fuji99] 10/2/2023 13:13

All miners are in a freefall today. AAL may revisit £30 with support at around £26.

[tuftymatt] 10/2/2023 12:31

I keep adding here too and it will come. Until then enjoy the 6% divi.

Good luck all 👍🏻

[vas007] 10/2/2023 11:22

Bought some more yesterday .When is this 3500 coming?

[la forge] 09/2/2023 12:57

Anglo American to buy stake in Crawford project owner Canada Nickel

MiningNickelMajor Commodities

By NS Energy Staff Writer 09 Feb 2023

The UK-based mining company will also have the exclusive right to purchase up to 10% of nickel concentrate, iron, and chromium recoveries found in the magnetite concentrates as well as any associated carbon credits from the project
mining-g0abfbfe50_640

Anglo American to invest $18m in Canada Nickel. (Credit: ivabalk from Pixabay)

Anglo American has agreed to buy a minority stake of 9.9% in Canada Nickel, the 100% owner of the Crawford nickel project in Ontario, Canada, for C$24m ($17.9m).

The stake will be bought through a private placement at a price of C$1.95 ($1.45) per common share of Canada Nickel.

As part of the agreement, Anglo American will offer technical expertise to the Crawford nickel project.

The UK-based mining company will also have the exclusive right to buy up to 10% of nickel concentrate, iron, and chromium recoveries found in the magnetite concentrates as well as any associated carbon credits from the project.

Besides, a material transfer and technology testing agreement has been signed to allow Canada Nickel to assess opportunities to add value to the nickel-cobalt sulphide project from Anglo American’s FutureSmart Mining technology programme.

The equity funding from Anglo American is expected to support the Canadian mining company to advance the works to wrap up the necessary permitting requirements to proceed with the development of the Crawford nickel project

Canada Nickel chair and CEO Mark Selby said: “We are very pleased to welcome Anglo American, a leading global mining company, as a cornerstone investor in Canada Nickel. Today’s announcement is another key milestone as we advance Crawford towards production.

“Our team is looking forward to working with Anglo American to identify opportunities to apply their industry leading mining innovation technology to add additional value to Crawford.”

Through the investment, Anglo American expects to broaden its nickel product offering with more battery-grade nickel that can be used in electric vehicles.

Anglo American marketing business CEO Peter Whitcutt said: “As a responsible provider of future-enabling metals and minerals to our customers, we are committed to supporting our industry in increasing the availability of critical materials that will underpin the success of the energy transition, and to do so sustainably.”

The private placement, offtake, and technology agreements, which are subject to customary conditions, are expected to close by the month-end.

[eggbaconandbubble] 08/2/2023 16:56

Strikes me that UK/LSE blue chip prices are driven by Wall Street these days.

[tuftymatt] 08/2/2023 14:03

A positive bit of news today and hopefully we can push back towards 3500 soon.
I am adding here.