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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Anglo American Plc | LSE:AAL | London | Ordinary Share | GB00B1XZS820 | ORD USD0.54945 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 355.00 | 16.10% | 2,560.00 | 2,551.00 | 2,552.00 | 2,579.50 | 2,421.00 | 2,435.00 | 21,221,265 | 16:35:12 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 30.84B | 283M | 0.2116 | 120.60 | 34.13B |
From Apr 2019 to Apr 2024
By Oliver Griffin
Anglo American PLC (AAL.LN) said Thursday that a joint venture between its majority-owned De Beers diamond mining business and the government of Namibia has approved the construction of a new diamond-recovery vessel for its fleet.
The diversified mining company said the net cost of the new vessel will be $234 million. It will become the seventh ship in the Debmarine Namibia fleet and is expected to begin production in 2022.
Bruce Cleaver, CEO of De Beers, said: "Some of the highest quality diamonds in the world are found at sea off the Namibian coast. With this investment we will be able to optimize new technology to find and recover diamonds more efficiently and meet growing consumer demand across the globe."
The new ship is expected to add 500,000 carats of diamonds to annual production, representing a 35% increase of Debmarine Namibia's current levels.
Mark Cutifani, CEO of Anglo American, said the investment offers a three-year payback, an initial rate of return of more than 25%, and a margin on earnings before interest, taxes, depreciation and amortization of more than 60%.
Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin
(END) Dow Jones Newswires
May 16, 2019 02:51 ET (06:51 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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