Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The crab and lobsters issue has been buried by a government cover-up.
The Redcar Bult Terminal wharf will be used until AAL's own wharf is built.
OR
The only guide/ guesstimate that I have seen for poly4 was £150 per tonne however this was in the run up to AAL purchasing the mine. Since then the cost of fertiliser has increased significantly due to world events, but also the results of crop trials continue to indicate that poly4 will be even more desirable and therefore more valuable. Guidance from the board would be appreciated.
100% agree Roxi, that's why an impairment charge was taken last year.
Talk is that a partner may come on board to share costs.
Agree, this is the future income, for years to come, unless we can find another solution to the food growth problem,
the money spent now will be off set against future income
Dinoken
The thought of dumping Woodsmith is completely illogical and would not make one iota of sense .
A very sensible decision on behalf of AAL to take over Woodsmith from SXX. Timescale could be better but
eventually will pay handsome dividends.
AAL are 'in a pickle' with Wordsmith. A great asset but at a high CAPEX which has come at a wrong time hence the reason for several design/scope reviews. I do feel an earlier production date would be favourable but at what cost to the rest of business parameters in the meantime. It must be an incredibly difficult balancing action to achieve production asap with the rewards it will bring against a 'sensible' cash flow for the project.
Dinoken, I don’t agree that the city doesn’t support Woodsmith, but it’s fair to say that the 2027 start date hasn’t been priced in yet.
For me the two areas of concern are finances prior to 2027, and the potential impact of port dredging on our preferred ship design. It would be nice to have confirmation that the crab and lobster issues will not affect AAL.
A scalable 13mtpa production rate in a highly efficient mine is certainly compelling. The premium value of this sought after fertiliser which requires minimal processing and fulfilling a global market for 50 plus years will not go unnoticed.
****bladder has article in dm saying that woodsmith is the future. city disagrees. sees it as an expensive vanity project paying for innumerable environmental permits. first production 2027 today, 2019 when sirius owned it. cost seriously in excess of 10bill. time to dump it imo
First saleable product is forecast for 2027. Next year it will be the year after next.
Woodsmith may not make locals as rich as they once dreamed but it will be a fantastic asset in the AngloAmerican family.
OR
When will wood smith be finished and make us the billions Frazer had promised?
Onwards and Upwards
Brokers at the brokerage firm Jefferies and the banks Barclays and RBC have cut their target price for the stock in response.
Analysts noted that £30bn had been lost from the value of Anglo, since Duncan Wanblad, a company insider, took over as chief executive from longstanding boss Mark Cutifani in April 2022.
Why merger in air ? Sp at depressed levels with diamonds and plat at bottom of cycle. 12/23 Jefferies said Anglo may become “involved in the broader trend of industry consolidation” and suggested Glencore as suitor. Edison mentioned Xstrata’s 2009 merger attempt failed because shareholders had not been offered a premium. Etc et al.
On Results day, roll on the £20 days
The Job Losses are at the PGM mines, just over 3,000
Were the job losses announces for the PGM or the diamond division?
Over the next few months, May 2024!!!, imo
Financial Updates out , Copper assets excellent, shame about the PGM, and diamonds, though they have announced large job losses there, 2024/5 look very promising, especially with the recent VALE deal long term hold and buy, !!!!
"It was tipped as a bid in one the newspapers a week or so ago"
Was that under obituaries?
It was tipped as a bid in one the newspapers a week or so ago,
The 50% reduction of dividend was not unexpected but I was in for the income, so I've taken advantage of the 3% rise in SP to get out whilst I'm still ahead. The premium from a merger offer would have been welcome, but bird in the hand and all that. Good luck to you all.
Why do you think there will be a bid?
Or you just wish it would be?
25 based on discounted cash flow. Bid at 30+ based on sum of parts IMO
Doing very well. And great news about the Vale deal, AAL leaner and will return dividends for years to come
Woodsmith project
Throughout 2023, we saw continued good progress on the core infrastructure, with capital expenditure of $641 million (2022: $522 million). Sinking activities at the two deep shafts continue to progress well. The service shaft is now c.745 metres deep, having reached the expected depth for the year. Sinking activities on the production shaft began in January 2023 as planned, at 120 metres below the surface, and following a successful ramp-up to planned sinking rates, is now at a depth of c.510 metres.
Excavation of the three shallow shafts that will provide both ventilation and additional access to the Mineral Transport System (MTS) tunnel is complete. The MTS tunnel is also progressing to plan and has now reached c.27.5 km of the total 37 km length.
During 2024, a key focus area for shaft sinking will be on progress through a strata called the Sherwood sandstone, where we expect sink rates to decrease due to the expected hardness of the rock and potential water fissures. This is planned for in progress rates, and the intersection of the strata is expected around mid-2024. On the tunnel boring machine, there is a planned 3-4 month maintenance pause from the second quarter of 2024, during which the tunnel will be connected to the final intermediate shaft, providing further tunnel access and ventilation.
In parallel to the core infrastructure development, we are enhancing the project's configuration to allow a higher production capacity and more efficient, scalable mining methods over time. The required studies for this are progressing well and will ensure that additional infrastructure is optimally designed to enable future optionality and maximise long term value over the expected multi-decade asset life.
The project is planned to be submitted for a Board approval decision on Full Notice to Proceed in the first half of 2025, following conclusion of the study programme.
Capital expenditure of $0.9 billion is approved for 2024, the bulk of which will continue to be invested on shaft sinking and tunnel boring activities.
The project is expected to deliver first product to market in 2027, with a final design capacity of 13 Mtpa, subject to studies and approval.