Here, with BRR Media's Scott Bannerman, I discuss Cadence Mineral's #KDNC acquisition of the former Anglo American #AAL and Cliffs Amapá iron ore mine, beneficiation plant, railway and private port, NE Brazil.
RNS Number: 4512 B Anglo American PLC 07 June 2019 Anglo American plc has today published on its website the details of its 91 managed tailings storage facilities and an additional 62 TSFs at non-managed joint venture operations in which it has an interest, as requested by the Church of England Pensions Board and the Swedish Council on Ethics for the AP Funds,...
#KDNC Cadence Minerals enters into a binding investment agreement with Indo Sino Pte. Ltd. to invest in and acquire up to a 27% interest in the former Anglo American plc #AAL and Cliffs Natural Resources Amapá iron ore mine, beneficiation plant, railway and private port owned by DEV Mineração S.A.
Cadence Minerals #KDNC enters Heads of Terms with Indosino Pte Ltd to invest in & acquire up to 27% of the Amapa iron ore mine in Brasil, formerly owned by Anglo American #AAL & Cliffs Natural Resources
Anglo American Plc (AAL.L) Announced that the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' fourth sales cycle of 2019, amounts to $415.00 million.
RNS Number: 6199 Z Anglo American PLC 21 May 2019 Anglo American plc announces the value of rough diamond sales for De Beers' fourth sales cycle of 2019, amounting to $415 million. Bruce Cleaver, CEO, De Beers Group, said: "Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the...
RNS Number: 1800 Z Anglo American PLC 16 May 2019 Anglo American plc. Registered office: 20 Carlton House Terrace, London SW1Y 5 AN. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 1618 Z Anglo American PLC 16 May 2019 Anglo American plc announces the approval by Debmarine Namibia, a 50:50 joint venture between De Beers Group and the Government of the Republic of Namibia, of the construction of a new custom-built diamond recovery vessel. Mark Cutifani, Chief Executive of Anglo American, said: "The addition of this custom-built...
RNS Number: 4187 Y Anglo American PLC 09 May 2019 Anglo American plc. Registered office: 20 Carlton House Terrace, London SW1Y 5 AN. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9120 X Anglo American PLC 02 May 2019 Anglo American plc today announces that, following the conclusion of a formal tender process led by its Audit Committee, the Board has approved the proposed appointment of PricewaterhouseCoopers LLP as its external auditor to take effect from, and including, the financial year ending 31 December 2020.
RNS Number: 6512 X Anglo American PLC 30 April 2019 Anglo American plc held its Annual General Meeting for shareholders in London today. The following remarks were made by the Chairman and the Chief Executive. Stuart Chambers, Chairman of Anglo American plc, made the following remarks:.
Anglo American (AAL LN) 2057.5 pence, Mkt Cap £26.61bn – Production report shows mixed results • Anglo American reports a mixed production performance for the quarter to 31st March with increased copper production offset by lower levels of metallurgical coal output resulting from two planned longwall moves compared to one in Q1 2018 and “isolated production issues” affecting the diamond, iron-ore and platinum operations. • Overall, the company says that “Production is 6% lower in the quarter … … Metallurgical Coal accounting for 80% of the reduction”. The company is, however, maintaining its metallurgical coal production guidance for 2019 at 22-24mt reflecting the planned nature of the lower output in the quarter. • Copper production was 4% higher than in Q1 2018 at 161,100 tonnes which the company describes as the “the best first quarter performance since 2014, with strong performance at all operations”. • Higher grades at the Los Bronces mine (0.8% copper compared to 0.71%) pushed output up by 8% to 91,700tonnes while higher grades at El Soldado (0.84% compared to 0.67%) increased output by 30% to 12,100 tonnes. Strong plant performance at Collahuasi offset by lower grades resulted in a 5% decline in attributable production to 57,300t. The company’s 2019 copper production guidance remains unchanged at 630-660,000tonnes. • Production of metallurgical coal fell by 25% to 4.2mt (Q1 2018 – 5.5mt) as a result of longwall moves at both the Moranbah and Grasstree mines while in Q1 2018 only Grasstree was affected. The company explains that an extended longwall move at Moranbah lasted 15 weeks “enabling additional maintenance to be completed that will shorten a second longwall move planned for the second half of 2019.” • Thermal coal exports from South Africa rose by 2% to 4.4mt while domestic coal production “decreased by 54% to 2.3 million tonnes mainly due to the completion of the sale of the Eskom-tied operations (New Vaal, New Denmark and Kriel) to Seriti on 1 March 2018.” • In Colombia, “Attributable export thermal coal production from Cerrejón decreased by 10% to 2.2 million tonnes due to dust management restrictions” • The 8% decline in diamond output to 7.9m carats are attributed to moves to change operations at the Venetia mine in South Africa from open-pit to underground operations with Venetia’s production declining by 65% to 382,000 carats (Q1 2018 – 1.09m carats) while production at the largest producer, Debswana, rose by 2% to 5.95m carats (Q1 2018 – 5.81m carats). • Namibian and Canadian diamond output declined by 9% (to 483,000 carats) and by 3% (to 1.04m carats (Q1 2018 – 1.07m carats) respectively. Diamond production guidance for the full year remains unchanged in the 31-33m carats range. • Platinum and palladium output declined by 5% (to 471,900oz) and by 6% (to 326,600oz) respectively reflecting the impact of “operational challenges … exacerbated by power disruptions.” Platinum and palladium production guidance is unchanged with the company expecting to produce between 2.0-2.1moz of platinum and 1.3-1.4moz of palladium. • Lower iron ore output at Sishen (down 12% to 6.4mt) as a result of “unscheduled plant maintenance” contributed to a 12% reduction in Kumba’s output, however, the restart of operations at Minas Rio during December and a smooth ramp up of production saw iron ore production increase by 61% to 4.9mt. Production guidance for the full year remains unchanged at 43-44mt for Kumba and 18-20mt for Minas Rio. • Anglo American reports a 19% increase (to US$69m) in its expenditure on exploration and evaluation. Exploration expenditure increased by 15% to $23m “driven by drilling activities at Sakatti (copper-nickel-PGMs) in Finland and increased work in our PGMs and Kumba Iron Ore businesses. Evaluation expenditure increased by 21% to $46 million driven by increased work on the Los Bronces Underground Project (Copper) in Chile.” Conclusion: Largely planned reductions in output during the quarter has left Anglo American’s production guidance intact across its spread of commodities. The restart of Minas Rio and the strong performance of the copper operations are both positive news as is the performance of Debswana.
Mining group Anglo American has reported a 6% decline in total production in the first quarter of this year. Despite this, chief executive Mark Cutifani says the company is on track to meet full-year production targets and its guidance is unchanged.
Anglo American Plc (AAL.L) Announced, in its production report for the first quarter ended 31 March 2019, that De Beers' diamond production decreased by 8% to 7.9 million carats driven by lower production at Venetia as it transitions from open pit to underground while the copper production increased by 4% to 161,100 tonnes due to strong plant performance and planned higher grades as well as platinum and palladium production decreased by 5%(2) to 471,900 ounces and by 6%(2) to 326,600 ounces, respectively, due to operational challenges as well as one-off benefits in Q1 2018. Moreover the company added that the Kumba's iron ore production decreased by 12% to 9.5 million tonnes due to plant maintenance and Minas-Rio's iron ore production increased by 61% as its ramp-up progresses well, facilitated by access to higher grade ore in the Step 3 licence area while Metallurgical coal production decreased by 25% to 4.2 million tonnes with two longwall moves in the period compared to only one in Q1 2018.
RNS Number: 0158 X Anglo American PLC 25 April 2019. Anglo American plc Production Report for the first quarter ended 31 March 2019. Mark Cutifani, Chief Executive of Anglo American, said: "Production is 6% lower in the quarter, with two planned longwall moves at Metallurgical Coal accounting for 80% of the reduction.
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