Anglo American plc ADR (AAUKY) - OTCPK - Current
  • Tue, Jun. 28, 8:52 AM
    • Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) says its De Beers diamond unit generated $560M from provisional rough diamond sales during the fifth sales cycle of 2016, ended June 27, down from $636M in the fourth sales cycle ended in May.
    • De Beers says the results were in line with its expectations and typical seasonal demand patterns, adding that "rough diamond demand and polished diamond prices remain stable, reflecting steady consumer demand, but we maintain a cautious outlook."
    • The company says its H1 rough diamond sales increased 12% Y/Y to $3.02B.
    | Tue, Jun. 28, 8:52 AM
  • Tue, Jun. 21, 11:47 AM
    • Anglo American Platinum (OTCPK:AGPPY) warns that its H1 net earnings likely will fall by at least 20% Y/Y due to lower metal prices and a stock adjustment in the prior year.
    • The world's largest platinum producer, which is majority-owned by Anglo American (OTCPK:AAUKF, OTCPK:AAUKY), says it expects to report on July 25 at least a 20% drop in H1 basic earnings to 489M rand ($32.7M).
    • Citigroup says the trading update "should not be a surprise" given that last year's H1 earnings were skewed by an additional 130K oz. of platinum inventory stemming from a production ramp-up after protracted labor strikes in 2014.
    | Tue, Jun. 21, 11:47 AM
  • Mon, Jun. 13, 9:09 AM
    • Anglo American's (OTCPK:AAUKF, OTCPK:AAUKY) De Beers unit says it will sell its 50% stake in Botswana's sole coal mine of the government as part of the parent company's plan to reduce its commodities portfolio.
    • Anglo shut its Mmamabula coal fields in Botswana this year, in line with its plan to sell off certain assets but retain diamond producer De Beers, platinum and its copper units.
    • The mine produces 3.2M metric tons/year of coal.
    | Mon, Jun. 13, 9:09 AM | 1 Comment
  • Tue, Jun. 7, 11:12 AM
    • BHP Billiton (BHP -0.9%) and Glencore (OTCPK:GLCNF, OTCPK:GLNCY) are among final bidders for Anglo American’s (OTCPK:AAUKF, OTCPK:AAUKY) Australian metallurgical coal assets that may fetch ~$1.5B, Bloomberg reports.
    • Yanzhou Coal Mining (YZC +2.9%), Warburg Pincus-backed Anemka Resources and a pairing of Apollo Global Management and Xcoal Energy & Resources also submitted final bids for the Moranbah and Grosvenor mines, according to the report.
    • Anglo has said it wants to raise $3B-$4B from asset sales to help reduce debt and refocus itself as a miner of diamonds, platinum and copper.
    | Tue, Jun. 7, 11:12 AM | 2 Comments
  • Fri, May 27, 7:54 AM
    • Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) appoints of Bruce Cleaver as the new CEO of its De Beers diamond unit, effective July 1.
    • He succeeds Philippe Mellier, who is stepping down after five years in the position.
    • Cleaver was director of strategy and business development since 2015, climbing the ranks since joining the company in 2015; he served as co-acting CEO for a year prior to Mellier's appointment in 2011.
    | Fri, May 27, 7:54 AM
  • Fri, May 13, 10:41 AM
    • A South African court OKs a class-action lawsuit against the country’s top gold mining companies by workers seeking damages for contracting lung diseases, Financial Times reports.
    • The ruling clears the way for hundreds of thousands of former mine workers to pursue perhaps the biggest class action in South Africa’s history against companies including Anglo American (OTCPK:AAUKF, OTCPK:AAUKY), AngloGold Ashanti (NYSE:AU) and Sibanye Gold (NYSE:SBGL).
    • In March, Anglo American and AngloGold agreed to pay up to $30M into a trust in a settlement with 4,400 separate silicosis claims; the new ruling made allows the legal action to include miners who have contracted tuberculosis, whose numbers could total up to 500K.
    | Fri, May 13, 10:41 AM | 2 Comments
  • Tue, May 10, 3:31 PM
    • Chilean copper mine Collahuasi, owned by Glencore (OTCPK:GLCNF, OTCPK:GLNCY) and Anglo American (OTCPK:AAUKF, OTCPK:AAUKY), says it has agreed to a partnership with Teck Resources (NYSE:TCK) to share resources and infrastructure.
    • Collahuasi hopes to boost production after years of technical issues and labor disputes; TCK operates the nearby, smaller Quebrada Blanca mine.
    • TCK expects the agreement to aid its current operations and a potential expansion of its copper mine through the shared use of water, energy, roads and other resources.
    • Collahuasi produced 455K metric tons of copper in 2015, while Quebrada Blanca produced 39K metric tons.
    • Now read Teck Resources: No longer in the danger zone
    | Tue, May 10, 3:31 PM
  • Thu, Apr. 28, 7:56 AM
    • Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) agrees to sell its niobium and phosphates businesses in Brazil to China Molybdenum for $1.5B, the miner's latest move in selling non-core assets and trim debt.
    • The niobium and phosphates businesses were considered one of Anglo’s more profitable divisions, but they contributed only 5% of the company’s total $2.2B in EBIT last year.
    • The deal is conditional upon regulatory approval from China.
    • BofA Merrill Lynch analysts say they had considered a potential valuation of $800B-$1.1B for such a deal, "so $1.5B is a very positive outcome vs. our expectations.”
    • Now read Bloomberg: Anglo shortlists Mosaic, Vale in $1.5B Brazil sale
    | Thu, Apr. 28, 7:56 AM
  • Fri, Apr. 22, 11:35 AM
    • Mosaic (MOS +0.1%) and a group led by Vale (VALE -0.2%) and buyout firm Apollo Global Management are among suitors picked to make final bids for Anglo American’s (OTCPK:AAUKF, OTCPK:AAUKY) niobium and phosphate business in Brazil, Bloomberg reports.
    • Eurochem, South32 and X2 Resources, the P-E firm founded by former Xstrata chief Mick Davis also were considering making offers for the assets, which could fetch as much as $1.5B, according to the report.
    • Anglo put the Brazilian business up for sale last year as part of a wider plan to cut costs and debt amid a global rout in commodity prices.
    • Now read Mosaic to outlast lower prices
    | Fri, Apr. 22, 11:35 AM | 1 Comment
  • Thu, Apr. 21, 2:31 PM
    • More than 40% of the votes at Anglo American’s (OTCPK:AAUKF, OTCPK:AAUKY) annual shareholder meeting are cast against the company's executive compensation plan, which included a decision to pay CEO Mark Cutifani £3.4M ($4.9M).
    • Even though the CEO’s total pay, which includes a £966K bonus, was 8% lower than a year ago, the vote reflects disenchantment with Anglo's $8.1B in net losses over two years that sent shares tumbling ~70% in 2015, as well as Cutifani's plans to cut tens of thousands of jobs and reduce the number of mines the company runs to 16 from 45.
    • Some institutional shareholders say that Anglo directors received an unusually high number of shares, roughly 3x the number of previous years, just when they had dropped to low levels; “in theory, these incentives are absolutely correct, but they are being used in the wrong way by some companies, such as Anglo," says the head of corporate governance at one large U.K. institution.
    • Now read BP shareholders reject executive pay policy in non-binding vote
    | Thu, Apr. 21, 2:31 PM | 1 Comment
  • Thu, Apr. 21, 8:34 AM
    • Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) reports lower Q1 production across most of its mining businesses while reaffirming its full-year production guidance.
    • Anglo says its De Beers diamond output, last year's largest driver of underlying EBIT, fell 10% Y/Y to 6.9M carats in the quarter, in response to the company's decision to reduce production amid weaker diamond prices.
    • Iron ore output, last year's second largest contributer to underlying EBIT, fell 9% Y/Y to 12.2M metric tons as lower output from its South African operations more than offset higher output from the ramp up of its Brazilian Minas Rio project.
    • "Overall, this is a weak production report, across most key commodities - production volumes for iron ore, metallurgical and thermal coal, copper, nickel and platinum were all below our estimate - typically 5%-7% below expectation," Canaccord Genuity analysts say.
    • Now read De Beers reports higher diamond demand
    | Thu, Apr. 21, 8:34 AM
  • Tue, Apr. 12, 11:57 AM
    • Vale (NYSE:VALE) is teaming up with U.S. P-E firm Apollo Global Management (NYSE:APO) to bid for Anglo American's (OTCPK:AAUKF, OTCPK:AAUKY) niobium and phosphates business in Brazil, Reuters reports.
    • A sale of the assets, used for making fertilizers, could fetch ~$1B for Anglo, according to the report.
    • Anglo has said it wants to raise as much as $4B from divestitures to help cut net debt to under $10B by year-end as it deals with the commodity price slump.
    • Now read De Beers reports higher diamond demand
    | Tue, Apr. 12, 11:57 AM
  • Tue, Apr. 12, 8:54 AM
    • Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) says its De Beers diamond unit reported a third straight month of increased revenue from rough diamond sales following steps taken last year to reduce output and a buildup of polished diamond inventories that was weighing on demand and prices.
    • De Beers generated $660M from provisional rough diamond sales during the third sales cycle of 2016, ended April 11, up from $617M in the second sales cycle in February and $545M for the first sales cycle in January.
    • De Beers reportedly raised prices as much as 2% in the sale, the first increase since the end of 2014 and a big improvement from last year, when slowing Chinese demand and an industry credit crunch forced the company to cut prices by ~15%.
    • Now read World's no. 1 diamond mine reaches first gems following expansion
    | Tue, Apr. 12, 8:54 AM
  • Mon, Apr. 4, 12:45 PM
    • Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) agrees to sell its 70% interest in the Foxleigh metallurgical coal mine in Queensland, Australia, to a consortium led by Taurus Fund Management for an undisclosed sum.
    • Anglo says the sale is in line with its plan to cut the total number of mining operations it runs to 16 from 45 as it plans to exit the coal mining industry and to sharply pare down its iron ore operations.
    • RBC analyst Des Kilalea says the sale is "a small positive in that it moves on the process of streamlining Anglo's portfolio and reducing debt."
    • Now read Strategy at the major metal miners is dead
    | Mon, Apr. 4, 12:45 PM
  • Fri, Apr. 1, 11:58 AM
    • DeBeers' $2.2B plan to expand the Jwaneng diamond mine - the world's largest - in Botswana has encountered its first gem-bearing ore, seven years after it started, GM Albert Milton tells Bloomberg.
    • The joint venture between the Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) unit and Botswana's government started the extension in 2010, the largest single investment in the African country.
    • Jwaneng’s production fell 13% Y/Y to 9.8M carats in 2015, representing 34% of DeBeers' total global diamond production, with most of its output from the Cut 7 ore body; the company says Cut 8 will become the mine’s main source of the gems in 2018 and eventually access an estimated 110M carats.
    | Fri, Apr. 1, 11:58 AM
  • Tue, Mar. 22, 10:36 AM
    • The doubling of Anglo American's (OTCPK:AAUKF, OTCPK:AAUKY) share price since late January means the time could be ripe for a rights issue rather than an asset fire sale to boost its defenses against lower commodity prices, fund managers tell Reuters.
    • Anglo has said it does not need to raise cash and that it will sell its iron ore, coal and nickel operations as part of a plan to raise $4B this year and cut net debt to $10B, but fund managers say disposals amid weak commodities prices will take some time, with potential bidders holding off in the hope that assets could become cheaper.
    • "Why borrow more when the market has made it possible to raise money?" a banking source tells Reuters. "The assets need to sell at a good price soon, within months. It will be difficult [since Anglo is] perceived as a distressed seller."
    | Tue, Mar. 22, 10:36 AM
Company Description
Anglo American is engaged in the mining and natural resource sectors. Co. is a global leader in platinum group metals and diamonds, with significant interests in coal, base and ferrous metals, and an industrial minerals business.
Industry: Industrial Metals & Minerals
Country: United Kingdom