Anglo American Plc
Anglo American Plc
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(DEVELOPMENT)
Privateer Cashmere Iron has teamed with Australia’s major energy distributors and global miner Anglo American to evaluate an innovative pipeline-based mining infrastructure concept that could open up Western Australia’s massive Mid West iron ore province.
Global miner AngloAmerican’s Mar 2021 qtr (Q1 21) thermal coal production jumped to 4.9Mt from Q4 20’s 4.4Mt, but with the pending demerger of the company’s thermal coal operations in South Africa expected to be sanctioned by shareholders on May 5, 2021, FY/CY 21 expectations thermal coal have been cut to 14Mt from the previous 24Mt.
The only other winners in Q1 21 were diamonds production up to 7.2Mcts from Q4 20’s 6.7Mcts and iron ore up to 16.2Mt from 16Mt, with some of the company’s operations still suffering Covid-19 constraints.
(DEVELOPMENT)
Miners line up for a chance to capture a significant share of the rapidly growing global demand for low-emissions renewable hydrogen to power plant and vehicles, replace fossil fuels to reduce carbon emissions and potentially take over power supply in remote areas.
Global miner Anglo American is spinning off its thermal coal operations in South Africa into a new holding company, Thungela Resources, to be listed on the Johannesburg and London stock exchanges on June 7, 2021.
Anglo American CEO Mark Cutifani says Anglo American has been pursuing a responsible transition away from thermal coal for a number of years, as the world transitions towards a low carbon economy.
Australia/SE Asia-focused contract miner Macmahon has added to its recent string of wins, securing the 3-year surface mining services contract for Anglo American’s Dawson Coal Mine’s Dawson South operations in Queensland, Australia, from July 2021.
Dawson South forms part of the Dawson Mine, an open cut metallurgical coal mine J/V between Anglo American and Japan’s Mitsui Group. Macmahon estimates the contract will generate around $A200M in revenue over the 3 year term.
West Australian explorer Anax Metals has lined up funding of up to $US22M from global miner Anglo American for capital expenditure and other financial commitments through to commencing production at its 80%-owned Whim Creek copper-zinc project in the central Pilbara.
The non-binding term sheet envisages Anglo American acquiring a 1% net smelter return for $2M and supplying up to $20M project funding for an offtake agreement over all or any of Anax’s production share at average market rates.
Global miner Anglo American has expanded the scope of the development of its Aquila hard coking coal project in Australia, extending its roadway development and non-coal face services contract awarded in Aug 2019 to Mastermyne Group.
The contract for roadway development in the mains and gate roads plus outbye-related services for establishment of Aquila’s new longwall operation has been extended a further 12 months to March 2022 and operation of an additional roadway development unit.
International miner Anglo American has credited the resilience of its diversified business through the operational disruptions of the first half-year and the strengthening metals prices in the latter months for generating underlying EBITDA of $US9.8B for FY2020.
The result compares with the previous result of $10B and generated a mining EBITDA margin of 43% (FY2019: 42%).
Revenue grew narrowly to $30.9B ($29.9B), delivering attributable profit of $2.09B ($3.5B) and attributable free cash-flow of $1.2B ($2.3B).
Anglo American’s Anglo American Platinum is expecting Dec 2020 year (FY/CY 20) headline earnings to jump between 49%-69% on the previous year to between R27.8B-R31.4B from FY/CY 19’s R18.6B.
The leading primary producer of platinum group metals is also expecting basic FY/CY 20 earnings up 50%-70% to R27.8B-R31.4B from FY/CY 19’s R18.5B.
One of the largest essential services providers in Australia/New Zealand, Ventia, has picked up a 4-year contract expected to generate revenue of around $A216M of facility and asset management services to Anglo American’s metallurgical coal operations in Central Queensland’s Bowen Basin, Australia.