|Bid||2,169.00 x 45000|
|Ask||2,168.50 x 65000|
|Day's range||2,143.00 - 2,182.50|
|52-week range||1,433.80 - 2,229.50|
|Beta (3Y monthly)||0.95|
|PE ratio (TTM)||7.92|
|Forward dividend & yield||0.76 (3.72%)|
|1y target est||24.50|
(Reuters) - Miner Vedanta Resources said on Friday it had raised $1 billion (£765.5 million) through a bond issue and would use the proceeds to repay existing debt. The bonds, sold in two tranches, were ...
The London-based company will file for environmental approval of the $3 billion project to increase production at its Los Bronces mine during the third quarter, Henni Faul, who heads the miner’s copper business, said in an interview. The Los Bronces project is part of Anglo American’s plan to expand its portfolio of copper assets organically, Faul said. Production at Los Bronces -- the largest copper mine operated by the globe-straddling company -- will decline in five years as ore grades decrease.
WASHINGTON/LONDON (Reuters) - The U.S. Federal Trade Commission, which investigates allegations of deceptive advertising, said on Tuesday that it has sent warning letters to eight companies to insist that they distinguish in advertisements between diamonds that come from mines and those made in laboratories. The FTC said that it had found instances where the eight companies advertised diamond jewellery "without clearly and conspicuously disclosing that the diamonds are laboratory-created," according to the letter. An unredacted version of one of the letters seen by Reuters identified that recipient as Diamond Foundry, a California company that makes laboratory diamonds.
As prices scaled new highs in the first quarter, Saxo Bank A/S, Commerzbank AG and UBS Group AG were among banks warning of the potential for substantial pullbacks. “Much of palladium’s doubling in price over the last eight months was driven by supply concerns, and these are well-explored,” Michael McCarthy, chief market strategist at CMC Markets Asia Pacific Pty, said in an email.
By Shashwat Awasthi and Yadarisa Shabong (Reuters) - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 ...
The domestically-focussed FTSE 250, more exposed to outcomes of Brexit proceedings, rose 0.6 percent. Wednesday's parliamentary vote paved the way for another one on Thursday that could delay Britain's exit from the European Union until at least the end of June.
Miner Anglo American on Thursday completed the installation of a floating island of solar panels in a tailings pond associated with its flagship Los Bronces copper mine outside the Chilean capital of Santiago, a bid to boost efficiency at the deposit. Chile mining minister Baldo Prokurica, who attended a ceremony inaugurating the project, said he saw the pilot programme, the first of its kind, according to Anglo American, as a model to follow. In Chile, the world's top copper producer, that has largely meant a turn to solar power and desalinated sea water.
Australian mining magnate Lang Hancock famously discovered the world's biggest iron ore deposit when he noticed the red-stained cliffs of a canyon while flying over the Outback in the 1950s. Now, the days when massive mineral deposits could be simply spotted by plane are gone, so miners are adopting new lab techniques and machine-led mapping to detect metal traces in everything from sand to gum tree leaves and groundwater. Australian miners are taking a deeper look at the 80 percent of the country that lies "under cover" - obscured by metres of sediment and sand, particularly in the desert interior, across an area twice the size of India.
Some of the world’s largest mining companies are calling for an independent global body to monitor the risks posed by waste dams, as the industry scrambles to react to a collapse in Brazil that left at least 171 people dead. Last month’s accident has raised questions about whether safety auditors, like the one Vale SA employed at its dam in Brumadinho, can be independent when they also compete for consulting fees from the same company. The chief executives of BHP Group Ltd., Anglo American PLC and Glencore PLC, and a spokesman for ArcelorMittal SA, the steelmaker that operates mines, say they would back an independent body to oversee dams.
Russian diamond giant Alrosa has big expansion plans in America despite tense US-Russia relations. The head of the US business, Rebecca Foerster, gave an exclusive interview to Yahoo Finance UK to discuss Alrosa's strategy.
Anglo American has restarted operations at its Moranbah North coal facility in Australia's Queensland state, it said on Monday, after one worker died and several were injured in a collision underground last week. The driver of the grader, Bradley Hardwick, was taken by ambulance to hospital and later died.
A Reuters report Thursday that the northern port of Dalian had banned imports from China’s biggest supplier of the black stuff sent ripples through global markets, driving the Australian dollar down as much as 1.3 percent after a whipsawing day of trade. London-listed shares in Glencore Plc, Anglo American Plc and BHP Group fell 3.2 percent, 1.5 percent and 2 percent respectively. The obvious fear is that Canberra’s increasingly rocky relationship with Beijing could be prompting more widespread import curbs, not unlike China’s brake on U.S. agricultural exports since the trade war began.
Wholesale prices for lab-grown diamonds have fallen by up to 60 percent since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall. De Beers, part of mining group Anglo American (LSE: AAL.L - news) , shocked the diamond industry last year when it announced it was reversing a decades-old policy of selling natural diamonds only for jewellery and synthetic stones for industrial uses. Its Lightbox brand, created for the new synthetic venture, is starting small, selling 20,000 carats by the end of 2019, but De Beers has invested in a synthetic diamond factory in the U.S. state of Oregon, which should produce more than half a million rough carats a year when fully operational in 2020.
The London-listed diversified mining company’s net profit rose 12% to $3.55 in the year-ended Dec. 31. In 2015, as commodities prices plumbed to historic lows and the troubled Minas-Rio iron ore mega project in Brazil racked up debts, the company said it would shed tens of thousands of jobs around the world and sell off assets. A rise in those commodity prices and higher productivity at Anglo American has helped the company recover, with its share price up by almost a third since the start of 2018.
The diversified mining company said it made a profit of $3.56 billion in the year-ended Dec. 31 compared with $3.17 billion in 2017. A consensus estimate from 18 analysts compiled by FactSet forecast profit at $2.8 billion. Revenue for the year rose 5% to $27.61 billion, Anglo American said.
Anglo American (LSE: AAL.L - news) reported on Thursday better than expected core earnings, driven by higher copper and coal prices, but said no financial performance was "worth a life" and its biggest challenge was eliminating danger at its mines. The mining industry is under scrutiny following the collapse of a dam operated by Vale (Swiss: VALE.SW - news) in Brazil in January, which has rocked confidence in the sector just when balance sheets had been repaired after the commodities crash of 2015-16. Of the major companies, Anglo American was one of the worst hit by the commodity market slump and has made the strongest recovery.