Anglo American Share Discussion Threads

[tuftymatt] 22/2/2023 21:06

We will know in 10 hours time and hopefully in 11 hours time the reaction from the market is a positive one.

Good luck all 👍🏻

[philanderer] 22/2/2023 18:38

Anglo American shares closed down 2.2%. It reports annual earnings on Thursday. Its revenue for 2022 is forecast to be $36.88 billion, according to company compiled consensus, down from $41.55 billion in 2021.

[pander45] 22/2/2023 15:47

2500 looking likely

[vas007] 22/2/2023 10:44

Check out the youtube clips on poly4.

[vas007] 22/2/2023 10:39

https://www.google.com/search?q=poly4+anglo+american&oq=poly4&aqs=chrome.1.69i57j0i512l2j0i10i512l5.4302j0j16&client=ms-android-motorola-rvo3&sourceid=chrome-mobile&ie=UTF-8#

[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.