Archive | Anglo American

Anglo, Glencore among firms in study said to be meeting Paris Agreement targets – by David McKay (MiningMx.com – October 7, 2020)

October 8, 2020 in Anglo American, Climate Change, Carbon Taxes and ENGOs, Glencore, International Media Resource Articles

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ANGLO American and Glencore were two of only seven companies that a study said were doing enough to meet Paris Agreement targets on climate control.

Transition Pathway Initiative (TPI) assessed 59 resources and energy companies finding the fossil fuel industry was failing on its environmental scorecard.

The TPI is a global program based at the London School of Economics, which assesses climate risks and companies’ preparedness for a low-carbon economy, said Bloomberg News which reported on the study. Continue Reading →

Anglo American explores sale of South Africa’s coal alongside spin-off -sources – by Clara Denina and Zandi Shabalala (Reuters U.S. – May 22, 2020)

May 25, 2020 in Africa Mining, Anglo American, Coal, International Media Resource Articles

https://www.reuters.com/

LONDON, May 22 (Reuters) – Anglo American is still exploring a sale of its thermal coal assets in South Africa as an alternative to spinning off and listing the business, three sources familiar with the matter told Reuters.

Mining companies are under pressure to stop mining coal, the most polluting fossil fuel, from investors and governments keen to switch to cleaner fuels.

London-listed Anglo said earlier this month that it would spin off its last remaining coal assets in South Africa and list them in Johannesburg. Sources say an outright sale of Anglo American’s coal mines was still on the cards. Continue Reading →

Australian state launches enquiry into Anglo coal mine blast (Reuters U.S. – May 11, 2020)

May 12, 2020 in Anglo American, Australia/New Caledonia/Papua New Guinea Mining, Coal, International Media Resource Articles, Mining Accidents, Deaths, Cave-Ins and Industrial Disease

https://www.reuters.com/

MELBOURNE (Reuters) – Australia’s Queensland on Monday ordered an independent enquiry into an explosion at a coal mine run by Anglo American in the state that last week critically injured five workers.

The accident took place 15 months after another Anglo American worker was killed at a nearby mining complex and comes just months after a review called for tighter regulation of the sector that has seen at least 48 deaths since 2000.

The probe will be led by a retired judge or Queens Counsel who will be able to conduct hearings, call witnesses and make broad inquiries relating to the blast, state mines minister Anthony Lynham said. Continue Reading →

Anglo American to spin off South African coal mines – by Cecilia Jamasmie (Mining.com – May 7, 2020)

May 7, 2020 in Africa Mining, Anglo American, Canadian Media Resource Articles, Coal

https://www.mining.com/

Anglo American (LON: AAL) is speeding up its exit from thermal coal as it announced on Thursday it planned to spin off its South African unit within the next three years.

Mounting pressure from investors, regulators and environmental organizations has pushed miners to either sell coal assets or to limit their exposure to the fossil fuel in recent years.

The diversified miner, which has consistently been offloading coal operations since 2014, said the possible demerger of the South African coal operations was its preferred option. Anglo American did not rule out other options, such as a trade sale. Continue Reading →

Anglo American Pours Money Into Growth as Buybacks End – by Thomas Biesheuvel (Bloomberg News – February 20, 2020)

February 21, 2020 in Anglo American, International Media Resource Articles

https://finance.yahoo.com/

(Bloomberg)- After spending almost $1 billion in buying back shares, Anglo American Plc is changing directions and leaning fully into growth.

The century-old mining company, which announced full-year earnings on Thursday, opted not to allocate more money to share buybacks. That’ll free up money for Anglo to spend on a $3 billion U.K. potash project and a $5 billion copper mine in Peru with help from a partner.

While other mining companies have focused on giving billions back to shareholders and shied away from blockbuster acquisitions, Anglo is charting out a different path. The company has staked its future on building mining operations around the world in a broad spectrum of different materials, rather than focusing on a single product. Continue Reading →

UPDATE 2-Anglo American Platinum CEO Griffith to step down, earnings soar – by Tanisha Heiberg (Reuters India – February 17, 2020)

February 18, 2020 in Africa Mining, Anglo American, International Media Resource Articles, Platinum Group Metals

https://in.reuters.com/

JOHANNESBURG, Feb 17 (Reuters) – Chief Executive Chris Griffith said on Monday he will step down in April from the helm of Anglo American Platinum (Amplats), which on Monday reported a doubling in annual earnings, driven by higher metals prices.

Amplats, a unit of global mining giant Anglo American , said Griffith’s successor was expected to be an internal candidate and would be announced soon.

“After more than seven years at the helm, and given all that we as a team have achieved, this is now the natural time for the next generation of leadership to take this business forward and deliver further value,” Griffith said. Continue Reading →

Anglo’s Cutifani stresses the need for sustainable mining – by Simone Liedtke (MiningWeekly.com – February 3, 2020)

February 4, 2020 in Anglo American, International Media Resource Articles

http://www.miningweekly.com/

JOHANNESBURG (miningweekly.com) – Despite mining’s contribution to almost every aspect of modern life, the industry is still seen as an industry “that takes more than it gives”, Anglo American CEO Mark Cutifani lamented in his keynote address at this year’s Investing in African Mining Indaba, which is taking place in Cape Town, this week.

He highlighted that the mining industry – which contributes to, besides others, food production, construction materials, transport, clean energy and communication solutions – drives 45% of the world’s economic activity, whether directly or indirectly, while disturbing only a small fraction of the earth’s surface.

However, with criticism still being directed at the industry, Cutifani on Monday told delegates at the Indaba that the mining industry needed to face the challenge of finding “new, safer, more sustainable and cost-effective ways” to supply the essential raw materials needed for a rapidly growing and urbanising global population. Continue Reading →

Anglo American output held back by Chile drought, diamond weakness – by Shanima A and Noor Zainab Hussain (Reuters U.S. – Janaury 23, 2020)

January 23, 2020 in Anglo American, International Media Resource Articles

https://www.reuters.com/

(Reuters) – Anglo American (AAL.L) said on Thursday that water shortages at its Los Bronces mine in Chile had weighed on the global miner’s copper output in the fourth quarter, while rough diamond production was hurt by a softer global market.

The miner, however, reported a 4% rise in total production for the final quarter of 2019 as it ramped up output from its Minas-Rio iron ore mine in Brazil. It had reported a 7% increase in total production on a copper equivalent basis for the fourth quarter of 2018.

Copper production for the latest quarter dropped 13% to 159 kilo tonnes (kt) and output from the Los Bronces mine slumped 28%, hurt by the drought in Chile. Continue Reading →

A $4 Billion Mine Was Meant to Lift Northern England. Instead Locals Lost Big – by Ronan Martin and Thomas Biesheuvel (Bloomberg News – January 21, 2020)

January 21, 2020 in Anglo American, Europe Mining, International Media Resource Articles, Potash/Phosphate

https://finance.yahoo.com/

(Bloomberg) — Anglo American Plc’s plan to buy a giant potash project overlooking England’s North Sea is a bittersweet twist for local residents.

The deal will ensure billions of dollars of investment in the downtrodden region of North Yorkshire. But people like Neil Trillo, one of the thousands who bought shares in project owner Sirius Minerals Plc before it ran out of money, have been left counting their losses.

“It was a bit of a local dream,” Trillo said from behind the counter of his coffee stand in the seaside town Whitby. “Get involved with something local, something on the doorstep with a hundred-year plus tenure. That’s what was sold to investors.” Continue Reading →

Green Is The New Black For The World’s Biggest Mining Companies – by Tim Treadgold (Forbes Magazine – January 14, 2020)

January 14, 2020 in Anglo American, BHP Billiton, International Media Resource Articles, Nickel, Potash/Phosphate

https://www.forbes.com/

The “greening” of the world’s biggest mining companies is accelerating with a rush into environmentally benign material, such as potash, a high-value fertilizer, matched by an exit from the most polluting of minerals—coal.

Global miner Anglo American flagged its renewed interest in fertilizer with a proposal last week to acquire a troubled British potash-project developer, Sirius Minerals, which is developing the Woodsmith mine in Yorkshire, in the U.K.

If successful, the $500 million takeover would mark a return to fertilizer three years after Anglo American sold a phosphate business as part of a company-wide clean up. Continue Reading →

Mark Cutifani, mining boss who extracted Anglo American from crisis – by Neil Hume (Financial Times – January 10, 2020)

January 10, 2020 in Anglo American, International Media Resource Articles

https://www.ft.com/

When Anglo American announced plans this week to rescue a huge UK mining project, its straight-talking chief executive Mark Cutifani was conspicuous by his absence.

Instead, it was chief financial officer Stephen Pearce who explained why Anglo had offered £386m to buy Sirius Minerals, the company struggling to develop a giant potash mine under the North York Moors.

That would be unthinkable at many miners but not at Anglo, which has experienced a remarkable change in fortunes since Mr Cutifani, who exudes an easy Australian charm, took the helm in 2013. Continue Reading →

Anglo American Seeks to Buy $3.8 Billion U.K. Potash Mine – by Thomas Biesheuvel (Bloomberg News – January 8, 2020)

January 8, 2020 in Anglo American, Canadian Media Resource Articles, Europe Mining, Potash/Phosphate

https://ca.finance.yahoo.com/

(Bloomberg) — Anglo American Plc has moved to buy a giant U.K. potash mine that was running out of money, adding another major growth project for the century-old miner.

The deal for Sirius Minerals Plc is likely to secure 1,200 jobs and save the development of a mine in one of the U.K.’s most economically deprived areas. It’s also a further sign that Anglo is committed to growing its business — adding a second major project to its Peruvian copper-mine development — at a time when most rivals are reluctant to expand.

Anglo said it’s in advanced talks with Sirius about a possible 5.5 pence-a-share offer that values the company at about $508 million. While that’s a premium of 34% on Sirius’s closing share price on Jan. 7, the company was worth more than $2.3 billion 18 months ago, before its funding plans dried up. Continue Reading →

Another Big Mining Company Coal-Free Future – by Thomas Biesheuvel (Bloomberg News – November 12, 2019)

November 12, 2019 in Anglo American, Climate Change, Carbon Taxes and ENGOs, Coal, International Media Resource Articles

https://www.bnnbloomberg.ca/

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. Anglo American Plc dropped another hint that its days of mining the world’s most polluting fuel are limited.

In a slew of presentations released for an investor visit to Anglo assets in Australia, thermal coal was noticeably absent from a list of units seen to have long-term potential. The company is on a trajectory away from thermal coal, and will do so responsibly, an Anglo spokesman said.

Anglo will decide in the next year if thermal coal fits into its future portfolio, and may be better off selling the assets, RBC Capital Markets said in a note following the presentations. Continue Reading →

OPINION: BHP approach to Anglo CEO signals end of Mackenzie era is nearing – by Stephen Bartholomeusz (Sydney Morning Herald – September 26, 2019)

September 26, 2019 in Anglo American, BHP Billiton, International Media Resource Articles

https://www.smh.com.au/

Reports that miner BHP has approached Anglo American’s chief executive to sound him out as Andrew Mackenzie’s successor signals that the end of the BHP chief’s six-year tenure is now close.

Bloomberg has reported that BHP has contacted Anglo American CEO Mark Cutifani twice this year but so far has been rejected. Cutifani, an Australian, has been the chief executive of Anglo since 2013 and is credited with a massive turnaround of a group that was in crisis when he was appointed.

BHP doesn’t comment on its succession planning but it has become increasingly apparent that the process – which is a long-term and continuous one – has been intensifying this year. Continue Reading →

BHP Approached Anglo American Chief Mark Cutifani for CEO Role – by Thomas Biesheuvel and David Stringer (Bloomberg News – September 25, 2019)

September 25, 2019 in Anglo American, BHP Billiton, International Media Resource Articles

https://finance.yahoo.com/

(Bloomberg) — BHP Group has talked to Anglo American Plc Chief Executive Officer Mark Cutifani about running for the top job at the company, according to people familiar with the matter.

BHP made the approaches earlier this year and again more recently, said the people, who asked not to be identified as the process is confidential. Cutifani rebuffed the company’s advances so far, they said. BHP favors an internal hire, but also wants to speak with external candidates, the people said. Spokesmen for Anglo and BHP declined to comment.

Cutifani has said in previous interviews he planned to stay until Anglo finished its $5 billion Peruvian copper project Quellaveco, which may start production in 2022, by which time he will be in his mid-60s. Continue Reading →