Anglo American plc is one of the worlds largest mining and natural resource groups. With its subsidiaries, joint ventures and associates, it is a global leader in platinum group metals, gold and diamonds, with significant interests in coal, base and ferrous metals, industrial minerals and paper and packaging. The group is geographically diverse, with operations in Africa, Europe, South and North America, Australia and Asia.

            Red = 25 day moving average.           Green = 200 day moving average.

SALES PER ACTIVITY (Data as of 31/12/2005)

Packaging and Paper: 23%
Ferrous metals:         20.5%
Industrial minerals:    14%
Platinum:                 12.5%
Nonferrous metals:    12%
Coal:                       9%
Gold:                       9%

StockMarketWire.com
Diversified miner Anglo Asian Mining reported Thursday total production on a copper equivalent basis rose 6% in the second quarter of 2018, compared to the same period last year.

Copper production for the three months to 30 June increased by 12% to 158,000 tonnes amid strong operational performance and higher grades. Total copper production, however, was weighed down by major planned maintenance at Collahuasi.

Full year copper production guidance remained unchanged at a range of 630,000 to 660,000 tonnes.

Metallurgical coal production increased by 33% to 5.3m tonnes, driven by strong performance at Moranbah and Grosvenor.

Rough diamond production at De Beers increased by 3% to 9.0m carats as higher demand prompted a ramp up in output at Gahcho Kue. Full year production guidance remained unchanged at a range of 34m to 36m carats.

Platinum and palladium production in the quarter was roughly flat from the same period a year ago last year. Improvements in operational performances were weighed down by unprofitable output from Bokoni, which had been placed on care and maintenance in the third quarter of 2017.

The company raised its full year platinum production guidance to a range of 2.4m 2.45m ounces from a range of 2.3m to 2.4m, and kept full-year palladium production guidance unchanged at range of 1.5m to 1.6m ounces.

StockMarketWire.com
Anglo American reported Thursday it would move ahead with the development of its Quellaveco copper project in Peru after first-half earnings jumped 11%.

For the six months to June 30, underlying earnings (EBITA) rose 11% to $4.58bn from $4.12bn the same period last year, net income fell 9% to $1.29bn.

The average price for Anglo's commodities gained 8% from a year ago, contributing $0.8bn of improvement to underlying earnings (EBITDA), the company said.

The company also said it was at the half way point of meeting its cost and volumes improvements targets for the full year.

'A 6% increase in copper equivalent production volumes helped deliver $0.4 billion of cost and volume improvements in the first half, out of the $0.8 billion targeted for the full year,' the company said.

Net debt fell 11% to $4bn.

The Quellaveco copper project has an expected capital cost of $5.0 to $5.3bn and would be funded on an attributable basis: 60% by Anglo American and 40% by Mitsubishi.

Mitsubishi would fund pre-funding the first $500m of Anglo American's share of the capital expenditure, Anglo American said.

'We expect Quellaveco to generate a real, post tax IRR of greater than 15%, with a four-year payback and an EBITDA margin of more than 50% due to its highly competitive first quartile cash cost position,' Mark Cutifani, Chief Executive of Anglo American.

HARRYCAT and cynic - are you still both holders?
Bought a few at August-2018 £15.5 dip ( Turkey effect, but not sure why).... I like the Ns of DeBeers artificial stones and Peru looking a good JV opportunity that others may have missed. What I don't like is the debt-level ( but shrinking), and that dive to £4 in 2016. which looks like something was suddenly wrong..... but now fixed presumably.
Any thoughts....comments? Today, sp=1572. . . . . Cheers.
EDIT ( 28Aug2018)- AAL sp 1640; several "miners" are up.

I am not a holder. I watch most of the miners, but don't currently hold any. It's a sector which needs quite a lot of constant research and I haven't done enough to warrant investing.
At the end of 2015 AAL net debt was 3 times their market cap, so they had to restructure, hence the very low sp.

JP Morgan Cazenove today reaffirms its overweight investment rating on Anglo American PLC (LON:AAL) and raised its price target to 2290p (from 2170p).

UBS today (27.09.18) reaffirms its neutral investment rating on Anglo American PLC (LON:AAL) and raised its price target to 1800p (from 1650p).

StockMarketWire.com
Anglo American said Thursday it expected copper and diamond production to decline in 2019 after reporting annual output on a copper equivalent basis rose 7% following double-digit percentage growth in copper and rough diamonds output in the final quarter of the year.

In the final three months through December, Copper output rose 23% to 183,500 metric tons and rough diamond production from De Beers climbed 12% to 9.1m carats.

Platinum and palladium production both increased by 3% to 602,300 ounces and 386,600 ounces respectively, driven by an improved operational performance across the majority of the portfolio, the miner said.

The company forecasts diamond, copper, platinum production in 2019 will be below that of last year.

Diamond production was expected in the range of 31m to 33m carats for 2019, below the 35.2m carats reported last year.

Copper production in the upcoming year was expected in a range of 630,000 to 660,000 tons, below 668,300 tons seen this year. While 2019 platinum production guidance was revised to 2.0m to 2.1m ounces from 2.0m to 2.2m ounces previously.

'Solid operational performance resulted in a 23% increase in production from our Copper business, more than offsetting the impact of infrastructure constraints at Kumba,' said Mark Cutifani, Chief Executive of Anglo American.

'We ended this successful quarter with the restart of operations at Minas-Rio and receipt of a key approval relating to the important Step 3 licence area that supports its increase in production towards design capacity.'