Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Anglo American PLC on Tuesday priced a series of notes as part of the miner's senior notes offering.
The company will issue USD750.0 million notes carrying an interest rate of 5.375% and due in 2025 and USD750.0 million notes at 5.625% due 2030.
Desperate attempt to save cash.
The De Beers Group spent more on marketing than it received back in profits last year.
In 2019, the diamond giant invested $178 million (£138m) in marketing – the highest it has been in a decade – to help drive consumer demand.
During the year, however, De Beers posted its worst set of earnings since miner, Anglo American, bought it in 2012.
De Beers has closed its stores in London, Paris, the US, Canada, Russia, Kazakhstan, Malaysia and Saudi Arabia until further notice due to the ongoing pandemic.
doesn't make difference Gertfrobe, getting rid of supplies more important than getting out of the ground.they will just bring maintenance forward on plants. good set of figures for china output
Gertfrobe, not really news, as 95% of ALL stores are closed due to lockdowns.. Great time to buy shares in quality companies at these prices.
De Beers has closed its stores in London, Paris, the US, Canada, Russia, Kazakhstan, Malaysia and Saudi Arabia until further notice due to the ongoing pandemic.
JOHANNESBURG (Reuters) - Anglo American Platinum said on Monday it had declared force majeure on certain supplier contracts not considered essential as the bulk of its South African operations are temporally shut to comply with a three-week national lockdown.
South Africa, where most of the world’s platinum is mined, started a 21-day mandatory restriction on the movement of its population on March 26 as it battles the spread of coronavirus.
LONDON: Anglo American said on Friday it expected a 2 million to 3 million tonne fall in production at its Kumba Iron Ore unit in South Africa this year and a drop of up to 2 million tonnes in output of export coal due to a three-week shutdown.
The London-listed miner also lowered output of platinum and diamonds in South Africa, extended a slowdown in construction at its Quellaveco copper project in Peru and paused work in its Woodsmith polyhalite project in Britain.
Governments are stepping up measures to contain the coronavirus including restricting movement in populations and shutting down non-essential businesses such as mining.
Anglo American PLC on Monday said travel restrictions mean its De Beers unit will not be able to host its third sales event of 2020.
The miner said travel curbs will prevent both products, and customers in South Africa, Botswana and India from travelling to the event.
fair enough. hang in there with cutfanny and soon you too will be shirtless.
LTV,
Mining is a long term business and Woodsmith is a multi decade project, they won't be worrying about this short trem slowdown
I'll ignore your prediction that the sp will be below a tenner, given your proven investment record of losing your shirt on Woodsmith.
the RNS puts a spin on news that doesn't match with reality. Cutfanny knows that the shutdown will last longer. Even when back online commodoity prices are dropping and they'll not be shifting many diamonds for a while yet.
I bet they curse taking on woodsmith. they're slowing that right down. hopefully it'll stay that way for years and that turd fraser and his schoolboy sidekick will eff off back to oz sooner. he's lucky the restaurants in yorks are all closed so no one can spit in his food.
this will undoubtedly fall below a tenner. qu is how far. it'll need to be in the two to three quid range to get me interested.
27 March 2020, 07:40Source - SMW
Mining giant Anglo American warned on production after winding down operations in South Africa and Peru, with the Woodsmith polyhalite project in the UK also expected to halt activity.
'Based on the 21-day lockdown period in South Africa and allowing for a safe ramp-up of operations thereafter, Anglo American would expect a 2020 production volume impact of 2m-to-3m tonnes at Kumba iron opre (based on the c.50% reduction in the workforce) and 1.5m-to-2m tonnes of export thermal coal,' Anglo American said.
Sishen and Kolomela mines, part of the Kumba iron ore project, would continue to operate with a 50% level of workforce, while De Beers' Venetia mine would operate with a 75% reduced workforce, the company said. In Peru, where the company had temporarily withdrawn the majority of employees and contractors from its Quellaveco copper project and significantly reduced construction work, the government extended its initial 15-day national quarantine period by 13 days to 12 April. In the UK, meanwhile, Anglo American said it was in the process of pausing most construction and development activity on its Woodsmith polyhalite project following the government's measures to prevent the spread of Covid-19.
In line with that approach, numbers active at the Woodsmith site are expected to reduce further in the coming days, and we have taken the decision to pause tunnelling on Drive 1 of the mineral transport system from Wilton. We will keep this under review and adjust as the situation evolves.
Just a quick note to say that SM shareholders have NOT started receiving their 5.5p per share from AAL. ‘’Twas an error.
OR
Look at the date on the RNS below, it’s one day after the CEO sells
Deals on 05 March 2020
Declared Type Director Pos. Volume / Price Value
09/03/20 SELL Mark Cutifani CEO 204,584 @ 1,942.90p £3,974,863
RNS Number : 2958F
Anglo American PLC
06 March 2020
Anglo American Platinum announces temporary shutdown of the Anglo Converter Plant (ACP) and declares force majeure
You borrow the shares SELL them, then buy them back. What's the difference. Same result. He's benefiting off the drop in price. His job is to increase the price not trade off downturns. You think its of for your CEO to be selling shares and buying them back cheaper, trading his book? I don't. He's a turd.
The slump in Chinese diamond demand is causing a ripple effect back to cutters, traders and ultimately the mining companies like De Beers. The Anglo American Plc unit had given its buyers special permission to refuse to buy goods destined for China. The coronavirus comes as the diamond industry is still reeling from a disastrous year. Profits collapsed after a glut of both rough and polished stone.
LTV.
NO IT IS NOT.
Shorting is borrowing shares you don't own to sell them hoping to buy them later at a lower price and handing the borrowed shares back.
I would stay out of investing if you don't understand that basic premise.
Buying low and selling high or selling high and buying low is normal trading.
LTV do you know what shorting is? I believe it is illegal for a CEO to short his own company, it would be insider trading. They are allowed to do executive hedging,
You had better hope AA prosper to deliver all the local jobs for decades to come. Invest your 5.5p in Anglo, it will be a much less risky bet than you did before.
As I predicted. African shutdown will be devastating for AAL. Gonna fall. Timberrrrrrrrrrrrrrrrrrr!!!!!!!!!!!!!!
24 March, 2020
Anglo American notes the statement made by the President of the Republic of South Africa on the evening of Monday 23 March in relation to a 21-day nationwide lockdown, to take effect at midnight on Thursday 26 March, in order to help curb the spread of COVID-19 in South Africa. Anglo American will review the detailed regulations relating to this action that are being published, including in relation to exemptions for certain business activities, and will issue a further statement in due course.
Surely AA cannot pull out of the Sirius Minerals takeover. Reports on the SXX forum suggest funds are hitting SM shareholders’ accounts already (Barclays).
FWIW, I have followed the Woodsmith Mine project since 2013. I got burnt a bit :). However, I remain a fan of the project. When up and running, assuming the world still needs a high quality fertiliser product, this mine will deliver huge profits. The numbers are rather compelling.
I also think that despite the government’s miserable failure to support SM’s Stage 2 financing needs, they might support AA if necessary.
I plan to buy a few AAL Shares when my 5.5p per share lands in my account. After all, if we don’t come through this Covid-19 the money in the bank won’t be much use. Of course, I might wait a little while to see what the market does generally.
Take care.
Stay safe. Stay home.
OR
shorting his own stock. doesn't surprise me. what a snake.
He sold £3.9 million a few weeks ago.
Deals on 05 March 2020
Declared Type Director Pos. Volume / Price Value
09/03/20 SELL Mark Cutifani CEO 204,584 @ 1,942.90p £3,974,863