Anglo American share price falls as it books up to $4bn in writedowns in first half July 16, 2015 Shares in miner Anglo American were tarnished this morning after it said it expects to book $3bn-$4bn in writedowns in the first half of this year, due to its iron ore operation in Brazil and some Australian coal assets. The FTSE 100-listed company, due to report its first half results next week, attributed the impairments to [...]
Glencore share price falls as FTSE miners feel the heat from commodities selloff July 7, 2015 London-listed miners felt the heat today after the outlook for the Chinese economy darkened amid ongoing equity market turmoil. Earlier in the day copper prices fell 5.9 per cent to a six-year low of $2.389 a pound on concern about economic growth in China, the world's top metals consumer. It comes a day after Chinese brokerages [...]
Anglo American share price rises despite missing analysts’ targets in first quarter April 23, 2015 Shares in mining group Anglo American were up by 4.73 per cent yesterday, despite the company’s failure to meet analysts’ expectations in its production update for the three months to 31 March. Copper production fell by 17 per cent in the first quarter of 2015, down to 171,800 tonnes from 202,000 tonnes in the same [...]
Anglo American’s losses jump 161 per cent after $3.9bn asset writedown February 13, 2015 The figures The commodities slump has crushed Anglo American: the miner posted figures today showing it took $3.9bn (£2.5bn) in impairment charges in 2014 after it was forced to dramatically cut the prices of its assets. The pain didn't stop there. With iron ore prices having halved in 2014 it was always going to be [...]
Mining meltdown: Antofagasta, Glencore and Anglo American share prices plummet amid copper selloff January 14, 2015 Miners led the FTSE 100's biggest fallers in morning trading after a sudden collapse in copper prices knocked oil off the top of the commodities watch list. The metal plunged by more than six per cent after the World Bank slashed its global growth forecast for 2015. Antofagasta was the biggest faller, with shares dropping [...]
More mining M&A on the cards? Anglo American share price rises as boss says “come and get us” September 2, 2014 Shares in Anglo American, the world's largest platinum miner, jumped 2.6 per cent this afternoon after its chief executive said the company is open to takeover offers. In an interview, Mark Cutifani said his job is "to create value" – adding that "if somebody sees value, then there's a conversation to be had". I'm not [...]
Anglo American to proceed with large asset sale June 30, 2014 Anglo American, the London- based mining giant, is looking to sell off assets at a number of sites, including some of its oldest platinum mines in South Africa. The sale comes as part of a strategic review of the company’s assets, led by chief executive Mark Cutifani. The FTSE 100-listed mining giant, which also owns [...]
Antofagasta and Anglo American soar on strong production results January 29, 2014 SHARES in Anglo American and Antofagasta both soared over five per cent yesterday, after stellar fourth-quarter production updates pleased investors in both the FTSE 100-quoted miners. Anglo American reported a 25 per cent increase in iron ore production over the period, while copper output rose by 24 per cent to a record 214,4000 tonnes, beating [...]
Anglo investors share $1bn return October 27, 2005 The world’s third-largest mining company Anglo American revealed a plan yesterday to return $1bn (£560m) to investors in 2006. CEO Tony Trahar said: “Through a series of measures we are creating a more focused mining group.” As part of the wide-ranging review Anglo is to cut its 51 per cent stake in gold producer AngloGold [...]