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Yellow - great find I have mentioned this on the ShareSoc forum - I think this may be the time to engage through them with an extremely senior journalist with great sympathy for our plight and even suggesting possible solutions.
https://www.thisismoney.co.uk/money/comment/article-7922163/ALEX-BRUMMER-Sirius-Minerals-backers-shares.html
Should have said that's in the business section of todays Times
Venetia, an open pit mine that began operations in 1992, is South Africa’s biggest diamond producer but by 2021 the ore in the pit is expected to be depleted. A $2 billion project is under way to develop a new underground deep mine.
The shares closed down 76p, or 3.5 per cent, at £21
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Severe drought in Chile led to a 28 per cent drop in copper production from one of Anglo American’s biggest mines in the fourth quarter last year.
Lower availability of water at the Los Bronces mine in the Andes, near Santiago, resulted in a 44 per cent drop in throughput at the plant, offset in part by productivity improvements and mining more copper-rich ore.
The group’s total output of copper, used in electric wiring, fell by 13 per cent in the fourth quarter and 5 per cent over the year. The setback was more than covered by increased production of iron ore from Anglo’s Minas-Rio project in Brazil and greater output of coking coal in Australia, leading to a 4 per cent rise in group production.
Anglo American, listed in London and Johannesburg, reported underlying net profit of $9 billion in 2018 from mining commodities including copper, coal, iron ore, diamonds and platinum.
On Monday it announced that it had agreed a £405 million takeover of Sirius Minerals, the struggling North Yorkshire potash mine developer, as it revives a fertiliser business that it sold off in 2016 to survive the commodities rout.
Anglo produces copper from three mines in Chile. It said that Chile’s central zone “continues to face unprecedented climate conditions, with 2019 being one of the driest years on record and the driest since the start of the current decade-long drought”. It produced 638,000 tonnes of copper last year and has said that it expects to produce between 620,000 and 670,000 tonnes next year, “subject to water availability”. Water is critical to its mining operators, both for transporting crushed ore as slurry and for use in processing.
Tyler Broda, analyst at RBC Capital Markets, said: “The conditions are expected to remain tight until the next melt in [the third quarter of] 2020. This poses a risk to guidance, but has also been previously warned and incorporated into the lower production guidance.”
He said production overall showed a “strong finish to a strong year, with production an average of 5 per cent better for both us and consensus”.
Mark Cutifani, chief executive of Anglo, said: “We have delivered our full-year production targets across the business. Production is up 4 per cent for the quarter led by the continued successful ramp-up at Minas-Rio in Brazil.” The Minas-Rio iron ore project had to be shut down for most of 2018 to halt leaks from the pipeline that takes the iron ore slurry to the port.
Production last year was 23.1 million tonnes, up from 3.4 million tonnes in 2018.
As well as the impact of the Chilean drought on copper output, Anglo also reported a 13 per cent drop in diamonds production from De Beers. Mr Cutifani said this was anticipated due to the Victor mine in Canada reaching the end of its mine life and as “Venetia transitions to underground in South Africa”.
Venetia, an open pit mine that began operations in 1992, is South Africa’s biggest diamond producer but by 2021 the ore in th
FFC his call’s start at 8am, he needs to stop putting those cards in the phone boxes.
Well another coward that gets a quick dig in before buggering off ??
I have a long memory Tex so expect a fight when you return lol
I'm like my wife , I neither forget or forgive !!!
The trouble is yellow they have used to old " it's x% over the Y sp over the last twelve months" routine and their timing "luckily" ? made it 5'5p
Lord Charles has drunk to much ,and is turning into Ray Charles.
“ Please don't listen to me though ,I'm just a gobby F ker that doesn't know what he's talking about”
Very true :-) right good night all, I have enjoyed the banter, but drank too much and my calls start 8am. Arrghhh
I don’t think that’s the case, just interested to know your thoughts!
I agree. If they are worried about PIs then going from 5.5 to 6p won’t change anything and they aren't going to pay 15p when the BoD recommends 5.5.
Yellow
Please don't listen to me though ,I'm just a gobby F ker that doesn't know what he's talking about
There are II buying an awful lot of shares.
No personally , every penny is more than they want to pay and they probably know that just a penny or two won't be enough to change our minds ??? IMO obviously
Do you think they will up their offer?
Well they must know emotions are running high in the PI camp and hat most of us are going to vote NO ?
F3C - How do you mean - no votes being sold?
Yelllow I think they are waiting for a few more No votes being sold by the PIs ????
So why no date for the vote?
Yellow, we can only go on what we know. So currently there is no other firm offer. There could be something in the background bit IMO unlikely.
however maybe there is one buried in the 81 RNS released today.
Do we actually know that there are no offers being discretely discussed
I note -
We have been issued no date for any vote
The company are in radio silence
Chris Fraser have made no comment !
We don’t know weather there has been a revised offer by the consortium
When asked if other parties were still in discussions Tristan Pottas’s answer
was the strategic reveiw was ongoing!
Yellow
Trouble is I think 5.5p an insult and I wouldn't pay over £18 for aal so that wouldn't stack up for me either