Anglo American Share Discussion Threads

[grupo guitarlumber] 17/4/2023 14:03

MINING.COM


Teck attracts bids from Vale, Anglo American and Freeport


Cecilia Jamasmie | April 17, 2023 | 4:49 am


Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK) is said to have been approached by Vale (NYSE: VALE), Anglo American (LON: AAL) and Freeport-McMoRan (NYSE: FCX) on potential deals for the Canadian miner’s base metals business if shareholder approve a planned split.

The three global miners are among at least six companies that have expressed interests in transactions with Teck post-split, local paper The Globe and Mail reported on Sunday, citing sources close to the matter.


The Vancouver-based company, which is Canada’s largest diversified miner, proposed in February spinning off its steelmaking coal business to focus on base metals, particularly copper and zinc.


Swiss commodity trader and mining company Glencore Plc (LON: GLEN) launched a hostile $23.1 billion takeover of Teck, which has been sweetened since then to entice Teck’s shareholders initially opposed to the idea of being exposed to a larger coal portfolio.

The revised proposal gives Teck’s shareholders who do not want to own shares in the combined coal operation the option to receive cash plus 24% of the combined metals-focused business.

On Sunday, former chairman Norman Keevil, whose family controls Teck through its ownership of the majority of the company’s ‘A’ class of shares, reiterated his arguments against the takeover.


“As there has been much media commentary regarding my views on the future of Teck, I would like to provide a clear statement of my perspective,” he said.

“My colleagues and I are proud of what we achieved through 30 years of building Teck, growing the company 500-fold from a $25 million market cap to $12.6 billion, with double-digit compounded growth in shareholder value, and continuing growth in recent years to $25 billion today,” he added.

Keevil clarify he would support a transaction — be an operating partnership, merger, acquisition, or sale – with the “right partner”, on the “right terms” for Teck Metals after separation.

Teck’s chairman emeritus added that Glencore’s proposal was “the wrong one, as well as at the wrong time” and the split should go ahead.

With just over a week left on the clock for Teck’s shareholders to vote on the split, Glencore is trying its best to persuade the Canadian miner’s shareholders. Last week, chief executive Gary Nagle landed in Toronto to personally explain his company’s vision and intentions.

By Friday evening, two influential shareholder advisory firms had recommended against Teck’s strategy, while its largest investor, China Investment Corp., said it favoured Glencore’s proposal.



The shiny orange metal

Experts had anticipated that the company’s decision to split the business in two would make Teck Metals a takeover target. The company owns four copper mines in South America and Canada, which produced 270,000 tonnes combined last year.

Teck also expects to double copper output after the second phase of its Quebrada Blanca (QB) project in Chile ramps up to full capacity by the end of 2023.

Glencore believes that operating Quebrada Blanca jointly with the nearby Collahuasi mine, in which the Swiss multinational holds a 44% stake, would add at least a $1 billion of value to its coffers.

The idea, Glencore has explained, is that QB and Collahuasi share infrastructure rather than creating a single operation. The latter would require approval from Anglo American (LON: AAL), which has 44% of Collahuasi and Sumitomo, which holds a 30% indirect interest in the Chilean copper mine.

Top miners, in turn, are hungry for copper assets as demand for the metal accelerates and a global shortfall looms. BHP, Rio Tinto and Glencore itself have disclosed that they are actively looking to grow their copper exposure.

[tempted] 17/4/2023 08:19

AAL sniffing around TECK

[villarich] 12/4/2023 07:29

Do you go to the gym?

[turvart] 06/4/2023 16:50

I never hold stocks long as I trade most stocks. You’re one person not worth wasting time on, it’s people like you why I focus on the gym and stay away from Advfn. Filtered

[pander45] 06/4/2023 16:29

The share price is sick. The dividend decimated. There's clearly an issue isn't there? Did you do your research prior to dividend slashing? Obviously not, you held.

[turvart] 06/4/2023 16:25

What has the 2022 divvy got to do with future growth? How much research have you done with AAL? None by the sound of your posts.

[pander45] 06/4/2023 16:12

Growth, that is why they are slashing dividends presumably? You have to question the future convertibility potential into shareholder value on the back of recent events don't you?

[turvart] 06/4/2023 15:53

AAL have got so much growth in their/our portfolio, just been watching the Woodsmith project video, really impressive fertilizer mine in Yorkshire coming online in a few years, mark my words this share price in a few years will be well over double now.

[pander45] 06/4/2023 11:57

Yep no stamp duty either

[pander45] 05/4/2023 15:17

Erm, nope.

[vas007] 05/4/2023 14:55

Yeh and one of them is AAL.

[pander45] 05/4/2023 10:27

More attractive miners out there with better growth and divi options. Simple.

[philanderer] 05/4/2023 09:59

fwiw

Credit Suisse cuts Anglo American price target to 2,950 (3,250) pence - 'neutral'

[pander45] 05/4/2023 08:45

Down she goes to 2500s

[vas007] 04/4/2023 15:52

Tuffy it is going the wrong way this afternoon, why any idea.?

[tuftymatt] 04/4/2023 08:20

A quick look at 2700 I see at the open.

I agree that we seem to be building out support and hopefully it won't take much to push us on back towards the early 3000's

Good luck all 👍🏻

[turvart] 03/4/2023 15:37

These current share price prices IMO won’t be around for long because Quellaveco Peru copper mine operation is really ramping up production to 300,000 tonnes per annum by summer this year that should push AAL copper production to over 800,000 tonnes a year from approximately 660,000 tonnes in 2022 ( including 100,000 tonnes from start of production from Quellaveco)

[philanderer] 03/4/2023 10:42

Barclays raises Anglo American to 'overweight' (equal weight) - price target 3,250 (2,900) pence

[turvart] 02/4/2023 13:14

Cheers Sarkasm,

Yeah definitely a gluten for punishment with the gym and my share portfolio hahaha

[sarkasm] 02/4/2023 12:33

Welcome back Turvart

you seem to be a gluten for punishment, although my wife does a daily session of exercises for 25minutes at home every morning

I ENJOY THE MUSIC AND SONGS THAT GO WITH IT

[turvart] 02/4/2023 11:27

Hi Waldron,
Yeah fine thanks, I’m holding AAL fairly heavy and also CCH.
Not been on Advfn much these days as I’m in the gym 6 days a week, nice to see you pal and take care.

[waldron] 02/4/2023 06:29

The wanderer has returned

Trust all is well Turvart

enjoy your day and week

take care

chucklr and cheers

[turvart] 01/4/2023 23:53

I’m looking forward to the Q1 production report, should be a big improvement with copper mined, AAL will gain ground in the coming months I think going back into the 30’s is going to be sooner rather than later, I’ve got 2 limits set 1 to buy more @ 25.82 and 1 to sell @ 32.45

[philanderer] 30/3/2023 12:05

Morgan Stanley raises Anglo American to 'equal-weight'

Berenberg cuts Anglo American price target to 3,300 (3,600) pence - 'hold'