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Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Mining's biggest mystery is what Agarwal plans to do with Anglo

By: Bloomberg     21st September 2017 As Anglo American’s board met at the lavish Vergelegen wine estate in South Africa yesterday evening as part of a 100-year celebration, executives were blindsided by news headlines: Indian mining tycoon Anil Agarwal was becoming the biggest shareholder. After Anglo’s managers partied to honor the... 

Mining needs to be put back on an even keel as fast as possible

By: Martin Creamer     4th August 2017 Very telling were the comments of Deputy Minerals Minister Godfrey Oliphant during last week’s radio interview with 702 morning host Xolani Gwala. During the interview, the experienced Deputy Minister made no bones about his discomfort at not being consulted on Mineral Resources Minister... 

Cash-gushing Anglo restarts dividend as earnings double

By: Martin Creamer     27th July 2017 The underlying earnings of diversified mining company Anglo American have more than doubled in the six months to June 30, when the generation of cash in the half year was more than all of 2016. Earnings hit the $1.5-billion mark and cash flow soared to $2.7-billion. 

Diamond output leap helps Anglo

By: Martin Creamer     20th July 2017 A sharp rise in rough diamond production at a time of stable diamond trading conditions has boosted diversified mining company Anglo American in the three months to June 30, when overall production was 8% up on a copper-equivalent basis. Rough diamond production increased by 36% to 8.7 million... 

Platinum for new fuel cell Mercedes cut to autocat level  

By: Martin Creamer     12th July 2017 German car manufacturer Daimler has cut the platinum loading of its new fuel cell Mercedes to catalytic converter level. “We reduced the amount of platinum by 90%, which provides a significant cost reduction. Our fuel cell is not much above the platinum loading of a catalytic converter on a... 

Anglo American sells Drayton to unlisted Malabar Coal

By: Esmarie Swanepoel     4th May 2017 Diversified miner Anglo American has struck a sales agreement with unlisted Malabar Coal to divest of its 88.17% interest in the Drayton thermal coal and the much aligned Drayton South project, in New South Wales. “The agreement to sell the Drayton thermal coal mine marks further progress as we... 

Anglo commits to innovative mining that’ll keep people out of harm’s way

By: Martin Creamer     25th April 2017 Keeping people out of harm’s way, extracting more precious ore and less waste rock, recycling all the required water and producing only dry tailings are among the innovative steps diversified mining company Anglo American is firmly committed to taking.  “The real future of mining lies in turning... 

Anglo American achieves strong Q1 operational performance

By: Megan van Wyngaardt     24th April 2017 Diversified major Anglo American, led by CEO Mark Cutifani, posted a strong operational performance in the quarter ended March 31, with higher output achieved for most of its products, except copper and nickel. South African coal production increased 9% to five-million tonnes in the first quarter... 

R2.3bn Anglo coal sale to Seriti may hit Eskom ownership snag 

By: Martin Creamer     10th April 2017 A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity... 

Anglo sells coal mines to Mike Teke’s Seriti

By: Martin Creamer     10th April 2017 Diversified mining company Anglo American on Monday announced the sale of its Eskom-tied domestic thermal coal operations in South Africa to a wholly owned subsidiary of Seriti Resources Holdings, a company majority owned by historically disadvantaged South Africans and led by a management team... 

Anglo says South Africa reorganisation adds sale flexibility

By: Bloomberg     22nd March 2017 Anglo American said its decision to split some South African assets into a different subsidiary gives it the “flexibility” to dispose of its iron ore and export thermal coal assets should it decide to do so. The split, which was partly announced in February without reasons being given, means that... 

Anglo's billionaire investor puts mining on cusp of M&A era

By: Bloomberg     17th March 2017 Anil Agarwal’s surprise move into Anglo American suggests the mining industry may be on the cusp of a new wave of deals. For years, Anglo has been the subject of takeover speculation and during the worst of the commodities crisis it seemed on the verge of a breakup. It spent last year getting... 

Anglo's future thrown in question as billionaire grabs stake

By: Bloomberg     16th March 2017 In its 100-year history, Anglo American Plc has endured commodities booms and busts, South African apartheid and bitter boardroom disputes. Now the British mining giant is threatened by the ambitions of Anil Agarwal, an Indian scrap-metal trader turned billionaire mining tycoon. In a surprise... 

Transformation at the core of Anglo American’s resilience

By: Henry Lazenby     7th March 2017 The ability to innovate and build adaptation into the DNA of mining companies is a critical requirement to successfully navigate major market changes, Anglo American CEO Mark Cutifani said during a keynote address at the 2017 Prospectors and Developers Association of Canada’s yearly convention.... 

Anglo exceeds target as 2016 net debt declines to $8.5bn

By: Ilan Solomons     3rd March 2017 Diversified miner Anglo American is this year seeking an additional $1-billion in incremental net cost and volume improvements, while also aiming to return to an investment-grade credit rating and resume dividend payments. The group has already identified 75% of these targeted net cost and volume... 

Anglo American appoints new group general counsel

By: Megan van Wyngaardt     27th February 2017 Global diversified miner Anglo American has appointed Richard Price as group general counsel and as a member of Anglo American’s group management committee, effective May 1. He will be based in London and will report to Stephen Pearce, who will take up the role of FD on April 24. 

Anglo targets further $1bn in cost, volume improvements in 2017

By: Ilan Solomons     21st February 2017 Diversified miner Anglo American is this year seeking an additional $1-billion in incremental net cost and volume improvements, while also aiming to return to an investment-grade credit rating and resume dividend payments. The group has already identified 75% of these targeted net cost and volume... 

Convention aims to bridge communication gap

By: Simone Liedtke     17th February 2017 As a continually evolving industry that operates globally, sometimes the biggest difficulty for the mining industry is getting the right people together in one place to discuss their challenges and find ways to address and, ultimately, overcome them, says Prospectors and Developers Association of... 

'CAPITAL HAS NO COLOUR'

By: Martin Creamer     17th February 2017 Speaking at last week’s Investing in African Mining Indaba conference in Cape Town, Anglo American CE Mark Cutifani, above, advocated a new future for mining, through innovation, more resilience and, in South Africa in particular, a recognition that “capital has no colour”. Cutifani said many did... 

Parker to step down as Anglo chair after eight years

By: Megan van Wyngaardt     14th February 2017 Anglo American chairperson Sir John Parker intends to step down from the company’s board after eight years in the position. His departure will be effective during the year. “Having seen Anglo American emerge in a strong position from the mining industry downturn, with its sharp falls in commodity... 

Cutifani encourages mining sector to focus on constructive dialogue

By: Kim Cloete     6th February 2017 Anglo American CE Mark Cutifani has advocated a new future for mining, through innovation, a sharper focus on resilience and, in South Africa in particular, a recognition that “capital has no colour”. He told delegates at the annual Investing in African Mining Indaba conference, in Cape Town,... 

Anglo American increases Q4 output in most segments, but copper down year-on-year

By: Ilan Solomons     3rd February 2017 Diversified miner Anglo American achieved higher output for most of its products in the fourth quarter ended December 31, but copper production fell by 19% year-on-year. The lower copper production, which decreased to 146 600 t, was mainly the result of lower grades and the impact of adverse... 

Mining majors use Davos to get their messages across

By: Martin Creamer     27th January 2017 Mining companies featured strongly in a multi-page feature in the edition of Time magazine that followed closely on the heels of the influential World Economic Forum meeting in Davos. Mining majors like South Africa’s Anglo American, America’s Newmont and Canada’s Goldcorp got their messages... 

Anglo American Q4 output broadly higher but copper output down 19%

By: Ilan Solomons     26th January 2017 Diversified miner Anglo American achieved higher output for most of its products in the fourth quarter ended December 31, but copper production fell by 19% year-on-year. The lower copper production, which decreased to 146 600 t, was mainly the result of lower grades and the impact of adverse... 

Teck seeking infrastructure synergies with Anglo American in Chile

By: Henry Lazenby     24th January 2017 Canada’s largest diversified miner Teck Resources has entered into negotiations with fellow diversified miner Anglo American about the potential of building a shared port, in Chile, where both miners are considering expansions at neighbouring copper mines. Teck is currently mulling an expansion... 

Davos boosts platinum fuel cell outlook with hydrogen council launch 

By: Martin Creamer     18th January 2017 Hydrogen-powered fuel cell electric vehicles (FCEVs) offer the most natural solution for emission-free vehicles, discharging only water and requiring negligible change to current driving and refuelling habits, which is why 13 leading energy, transport and industry companies this week chose Davos... 

Anglo confronts messy divorce in miner’s South Africa birthplace

By: Bloomberg     8th December 2016 In 1917, Ernest Oppenheimer met with South African general and soon-to-be Prime Minister Jan Smuts to seek his blessing for a new mining company called Anglo American. Smuts wanted one assurance, the company was there for the long haul. Anglo, along with its sister company De Beers, made... 

Anglo faces platinum test in possible South Africa spinoff

By: Bloomberg     5th December 2016 Anglo American is facing a showdown with its biggest investor, South Africa’s State-owned Public Investment Corporation, which wants the miner’s prized platinum assets included in any divestment of its local operations. PIC, which owns about 14.5% of Anglo, is insisting platinum is included in... 

Anglo productivity up 40%

By: Martin Creamer     23rd November 2016 Mining company Anglo American, which has reduced the number of assets in its portfolio from 68 in 2012 to 42 now, is producing more product from those 42 assets than it was from the 68. As a consequence, the product produced per person is currently 40% higher than it was four years ago. 

A 300% rally that has investors questioning Anglo’s plan to sell

By: Bloomberg     26th October 2016 When a company quadruples in value over nine months, it’s unusual for the biggest investors to say management has the wrong strategy. But that’s exactly what’s happening with  Anglo American Plc, the mining company that is the U.K.’s best-performing blue-chip stock this year. In February, Anglo... 

Operational improvements continue across Anglo portfolio

By: Martin Creamer     25th October 2016 Operational improvements continue across the portfolio of Anglo American, which delivered an overall superior production performance in the three months to end September. On a copper equivalent basis, the London- and Johannesburg-listed diversified mining company beat previous third-quarter... 

Anglo’s top shareholder wants more South African control

By: Bloomberg     6th October 2016 Anglo American’s biggest shareholder wants South African investors to follow its lead and increase their holdings in the century-old miner as it pushes for the creation of a domestic commodities “champion.” “Our role is to make Anglo more South African-owned and controlled,” Public Investment... 

Pearce leaves Fortescue for Anglo American

By: Anine Kilian     23rd September 2016 Diversified mining group Anglo American has appointed Stephen Pearce FD. He will succeed outgoing FD René Médori. Pearce will join Anglo’s group management committee on January 30, before taking over as FD on April 24. 

De Beers, partner officially open Gahcho Kué mine

By: Creamer Media Reporter      21st September 2016 De Beers and its joint venture partner Mountain Province Diamonds have officially opened the Gahcho Kué diamond mine, in Canada, which will produce about 54-million carats of rough diamonds over its 12-year mine life. Gahcho Kué is the world’s largest new diamond mine to have been developed in... 

Prices are flying for the commodities Anglo wants to ditch

By: Bloomberg     16th September 2016 Anglo American, the century-old mining firm seeking to cut debt, is getting an unexpected windfall from the commodities it wants to ditch. When Anglo announced a plan in February to shrink its business by more than half to weather a crisis in raw-material prices, it put coking and thermal coal... 

Anglo American’s biggest shareholder wants vote on sales plan 

By: Bloomberg     1st September 2016 Anglo American's biggest shareholder, the Public Investment Corporation (PIC), will meet with the company next week to discuss whether its plans to sell more than half of its mines including South African coal and iron-ore assets is the best option for the country. The PIC, which oversees the... 

Anglo said to rebuff India billionaire Agarwal’s merger plan

By: Bloomberg     29th July 2016 Anglo American, the London-based miner, rebuffed informal approaches in recent months from Indian billionaire Anil Agarwal, who oversees the country’s biggest mining company, according to people familiar with the matter. Agarwal, who has majority control of Hindustan Zinc through Vedanta,... 

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