Anglo American - (Seite 20)

[Oginvest]

News: BHP Moody's warns Chile constitution uncertainty could hit mining investment

SANTIAGO, June 15 (Reuters) - Investment in Chile's mining sector could face gridlock if political uncertainty over a new constitution is not resolved, ratings agency Moody's said on Wednesday, a reflection of industry concerns in the world's top copper producing nation.

Chile is redrafting its market-orientated constitution which dates back to the military dictatorship of Augusto Pinochet. It will hold a nationwide referendum vote on the new text in September, a process which has been hit by flagging support.

Some of the more contentious proposals around mining have already been rejected by the constitutional assembly, but the text would still likely strengthen environmental regulation, which could impact mining of copper and lithium.

Moody's analyst Barbara Mattos said that without assurances for mining firms, investment may dry up. Global miners like BHP , Anglo American and Glencore operate in Chile alongside state mining giant Codelco.

"Unless the rules are clear we won't see an increase in investment in Chile even though the country has some of the best mining deposits in the world, particularly copper," Mattos said.

"A very important factor will be the legislation to regulate all the norms established by the constitution, which will possibly bring about changes in the conditions for making long-term investments."

For example, Mattos explained that a ban on activities around glaciers could potentially impact 20-25% of current copper production and some expansion projects, although the ultimate impact remains unclear.

This and other regulations, such as prioritizing water use for human consumption over mining, will lead to higher costs. Added to planned higher levies on mining, this would reduce cash flows for companies, Mattos added. https://hotcopper.com.au/threads/news-bhp-moodys-warns-chile…

[Oginvest]

Anglo American to stop using fresh water at Los Bronces mine in Chile by 2030

SANTIAGO, June 15 (Reuters) - Mining giant Anglo American (AAL.L) said on Wednesday that it planned to stop using fresh water at its Los Bronces copper mine in Chile by 2030, instead switching to desalinated and recycled water amid a protracted drought in the Andean country.

The miner is trying to convince a government committee, led by the environment minister, to extend its mining permit at the site near the capital Santiago after being rejected by the country's environmental permit evaluator earlier this year.

The $3.3 billion project has been criticized for its impact on water availability in the populous capital region.

"By the end of the decade and, as I see it, much earlier, more towards the middle of this decade, we will be in the situation of not needing fresh water for Los Bronces," Aaron Puna, Anglo American's Chile chief, said in a statement.

"Not only will there be no impact on the Metropolitan region, but what we will be able to do is meet, perhaps, one of the main objectives of the country."

The firm emphasized it viewed the project in the Andes mountains as viable and said it is willing to work with authorities to implement any environmental measures needed.

Los Bronces is part of Anglo American Sur, majority owned by Anglo American along with a Codelco-Mitsui consortium and Mitsubishi. Chile is the world's top copper producer and Los Bronces has an annual production capacity of over 300,000 tonnes.

Environmental advocates have criticized the Los Bronces project because of its potential impact on a local glacier as well as on water availability for the region. The company is seeking to extend the life of the mine through 2036.

https://www.reuters.com/business/environment/anglo-american-…

[Rudi07]

Antwort auf Beitrag Nr.: 71.717.368 von Oginvest am 04.06.22 18:54:11

Wow, was für ein Tagesverlust mit 6,06 % auf Tradegate.

Das ist zahlenmäßig doppelt so schlecht wie RIO mit minus 3,03 % in London am 10.06.2022.

Gibt es dafür Gründe, die ich nicht kenne ?

[Oginvest]

The conflict in Ukraine and its effect on the diamond business

War, in any form or for any reason, always has had a catastrophic impact on the people concerned. This is true of the Ukraine conflict and the world has clearly expressed its deep sympathy for the country’s inhabitants. War also can significantly upend businesses and their strategies, both locally and globally. This latest conflagration will probably have that outsized impact on the diamond business.

....

https://www.worlddiamondcouncil.org/the-conflict-in-ukraine-…

[Oginvest]

Anglo American rough diamond sales value for De Beers’ fourth sales cycle of 2022

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ fourth sales cycle of 2022, amounting to $604 million.

Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the fourth sales cycle of 2022, with the Sight event extended beyond its normal week-long duration. As a result, the provisional rough diamond sales figure quoted for Cycle 4 represents the expected sales value for the period 2 May to 17 May and remains subject to adjustment based on final completed sales.

Bruce Cleaver, CEO, De Beers Group, said: “We saw the continuation of good demand for our rough diamonds during the fourth sales cycle of 2022, supported by strong consumer demand for diamond jewellery in the US. However, rough diamond demand in the coming cycle will be affected as usual by the closure of many diamond polishing factories in India for the traditional May holidays. Meanwhile, diamond businesses are also continuing to closely monitor the effects of Covid-19-related lockdowns in China and the war in Ukraine and associated sanctions.”

https://www.angloamerican.com/media/press-releases/2022/18-0…

[Oginvest]

Anglo to roll out hydrogen truck fleet globally from 2024

Diversified miner Anglo American is planning to roll out hydrogen fuel-cell and battery hybrid trucks across its global fleet from 2024.


The company said its 2MW pilot truck was being assembled in South Africa, describing it as "a world first" - a zero-emission truck capable of carrying a 290 tonne payload and able to generate more power than its diesel predecessor.

"Once fully tested, we intend to begin rolling out this technology across our global truck fleet starting in 2024 and this will follow our typical truck refurbishment and replacement cycles," the company said last week as it released its Climate Change Report 2021.

It said diesel usage in its truck fleet accounted for 10-15% of Anglo's Scope 1 emissions and its haul trucks contributed up to 80% of the diesel emissions at its sites, saying switching to hydrogen was expected to take the equivalent of more than half a million internal combustion cars off the road.
New Scope 3 target

Anglo American also outlined a new target to reduce Scope 3 emissions.

"Building upon our commitment to carbon neutrality across our operations by 2040, we have today set our ambition to reduce our Scope 3 emissions by 50%, also by 2040," CEO Mark Cutifani said.

"We believe that we are doing all the right things to decarbonise our business and to work with partners to help decarbonise our value chains."

Anglo is aiming to increase its renewable energy usage, saying a little more than a third of the electricity it used globally in 2020 was from renewable sources.

"Having now secured 100% renewable electricity supply across our operations in Brazil, Chile and Peru, by 2023 we expect to be drawing 56% of our grid supply from renewables," the company said.

Anglo shares have risen 45% in 12 months to last trade at 2,722.5p in London, capitalising it at GBP37 billion (US$50 billion).

https://www.mining-journal.com/sustainability/news/1420787/a…

[Oginvest]

Anglo American presents fuel cell heavy-duty mining truck

Mining and resources group Anglo American has unveiled the prototype of what it claims is the world’s largest hydrogen-electric mining vehicle. The nuGen dump truck combines multiple fuel cells with a 1.2 MWh battery pack for a total output of 2 MW and can carry a payload of 290 tons.

The mining vehicle is part of a larger project by Anglo American. The nuGen project is a fully integrated hydrogen system consisting of production, refuelling and transportation systems, with green hydrogen produced at the mine site. Under the slogan “Future Smart Mining,” the Group is pursuing what it says is an innovation-driven approach to sustainable mining, bringing together technology and digitalisation.

For the giant dump truck, Anglo American has collaborated with other groups such as Engie, First Mode, Ballard and NPROXX. The fuel cells alone (presumably from Ballard) are expected to produce a combined 800 kW. Unlike trucks and buses, for example, many components have to be newly developed because of the special requirements. According to the announcement, this applies to the hardware as well as the software and the complete energy management system.

The vehicle itself weighs 220 tons, which with the payload results in a total weight of up to 510 tons. However, the vehicle is not new: the dump truck was converted from a diesel engine to a hydrogen-electric drive. The drive, developed together with First Mode from Seattle, can also recuperate, which greatly reduces external energy requirements, especially when driving downhill in the mine. The vehicle is being tested at the Mogalakwena mine in northwestern South Africa. Among other things, platinum is mined there, which is used in catalytic converters and also fuel cells.

“The impact of our nuGen™ project goes far beyond our operations. We believe that the emerging hydrogen sector has the potential to dramatically improve the growth and development of many economies by creating new industrial value chains and economic generation opportunities,” says Anglo-America CEO Duncan Wanblad. “Growing the hydrogen economy will revolutionise not just Anglo American’s operations, but all mining and many other industries – and ultimately shape a better, cleaner world.”

Wanblad also indicated that the company’s current diesel truck fleet will be converted to hydrogen or replaced with equivalent vehicles in the coming year. “If this pilot is successful, we could remove up to 80% of diesel emissions at our open pit mines by rolling this technology across our global fleet,” the CEO said. Emissions from the van fleet account for ten to 15 per cent of the company’s total emissions. By 2040, Anglo American aims to be CO2 neutral.
https://www.electrive.com/2022/05/09/anglo-american-presents…

[Oginvest]

Peru mining protests risk clogging $53 bln investment pipeline, industry warns

LIMA, May 17 (Reuters) - Peru, the world's second-largest copper producer, risks losing out on billions of dollars of mining investment if the government fails to defuse protests that are hitting the industry and denting production, analysts and executives said.

Social conflicts have risen in the Andean nation over the past year since socialist President Pedro Castillo came into office, with a spate of protests against mines, including one that has halted production at the huge Las Bambas copper deposit.

With global prices soaring on high demand, that now threatens a mining investment pipeline of some $53 billion and could stall future projects expected by investment bank RBC to make up 12% of the world's copper supply in years to come.

"Without any world-class projects on the horizon, the prospects for sustaining production are not good," said Gonzalo Tamayo, analyst at Macroconsult and a former Peruvian mines and energy minister.

Mining executives and analyst met last week in Peru's capital Lima, where the main concern was falling investment tied to rising social protests. A central bank report shows investment dipping some 1% this year and 15% in 2023.

The conflicts, mainly in poor Andean areas where communities feel bypassed by the huge mineral wealth beneath their soils, have started to bite, with protesters emboldened under Castillo who won election pledging to redistribute mining wealth.

Southern Copper's Cuajone mine was paralyzed for almost two months earlier this year.

Las Bambas, owned by China's MMG Ltd , suspended operations in April after an invasion of the mine by communities demanding what they called ancestral lands. The mine, which produces 2% of the world's copper output, remains offline.

Las Bambas had received government approval in March to expand the mine, a plan which is now under threat.

Álvaro Ossio, vice president of commercial and finance for ​​Las Bambas, said in a presentation at the Lima event, that the country faces a big task to benefit from high global prices.

"The great challenge that remains for all Peruvians is to take advantage of this great opportunity in these future trends," he said.

Peru's last big mining investments were in Anglo American's Quellaveco and Minsur's Mina Justa of a combined $6.6 billion. Their operations starting this year will help Peru hit annual output of 3 million tonnes of copper by 2025, experts say.

However, other major projects like Southern Copper's Tia María, Michiquillay and Los Chancas worth some $6.7 billion, Buenaventura's near billion dollar Trapiche and Rio Tinto's $5 billion La Granja remain up in the air.

Not all was downbeat, however.

The world's largest gold miner, Newmont Mining , said at the event that it was considering expanding into copper production in Peru, with a potential future return to the canceled Conga project.

Analyst Tamayo, though, stressed recent protests against mining had become harder to resolve.

"Now there are protests that stop mines in full operation," he said. "The mining firms feel that the State does not support them and that the State has ceased to be the arbiter in conflicts."

(Reporting by Marco Aquino; Editing by Adam Jourdan and Richard Pullin)

https://financialpost.com/pmn/business-pmn/peru-mining-prote…

[Oginvest]

Botswana sees Russian diamond ban opening door to synthetic gems

GABORONE, May 16 (Reuters) - Botswana, Africa's top diamond producer, sees a prolonged ban on Russian diamonds opening the way for synthetic gems to expand market share, the country's minister told a mining conference on Monday.

The United States, the world largest market for natural diamonds, imposed sanctions on Russia's state-controlled Alrosa ALRS.MM in April, aiming to cut off a source of revenue for Moscow after its February invasion of Ukraine.

Alrosa, the world's largest producer of rough diamonds, accounted for about 30% of global output in 2021.

Botswana's Minister of Minerals and Energy Lefoko Moagi said the ban on Russia diamonds might push prices up to the benefit of rival producers but he also said the gap would be hard to fill.

"We see the 30% gap that will be left by the ban being plugged by something else that is not natural. And for us that will be a challenge," he said.

Jacob Thamage, head of Botswana's Diamond Hub, said uncertainty over the Ukraine conflict makes it difficult for Botswana and other natural diamond miners to fill the supply gap as ramping up operations requires significant investment.

"You don't want to invest a lot of money to up-scale and then the war ends the next day," Thamage said. "We also see the higher prices pushing consumers to substitutes such as the synthetics and this can cause problems for us if we cede the market to unnatural stones."

Sales at Debswana, a joint venture between Anglo American AAL.L unit De Beers and Botswana's government, accounts for almost all of Botswana diamonds exports. These stood at $3.466 billion in 2021 compared with $2.120 billion in 2020.

Thamage also fears that consumers might start to shun natural diamonds due to traceability issues.

"There is an increased fear that buyers of diamonds will begin to treat all natural diamonds as conflict diamonds and therefore shift to unnatural diamonds," he said.
https://www.nasdaq.com/articles/botswana-sees-russian-diamon…

[Oginvest]

Anglo American to return to Zambia with Arc Minerals copper deal

CAPE TOWN, May 12 (Reuters) - Arc Minerals (ARCMA.L) said on Thursday that Anglo American (AAL.L) will take majority control of its Zambia copper-cobalt exploration licences. It marks the first new investment by Anglo in Zambia in 20 years.

Under the deal, which was first reported by Reuters, Anglo will take 70% of a joint venture with Arc that will own licenses to explore Zambia's copper-rich North-Western province, an area that Anglo previously explored in the late 1990s.

Major mining firms are searching for new sources of the battery metals copper and cobalt, especially in the wake of the war in Ukraine and sanctions on Russia which has sent metal prices soaring.

Anglo American will pay $3.5 million into the joint venture upon signing. It will be able to retain its stake by spending $74 million on exploration within seven years of signing and making cash payments of $11 million into the JV, according to terms of the deal.

Arc Minerals previously had an exclusivity agreement with Anglo from July 2020 to July 2021, and when that lapsed Arc Minerals said it would start talks with other major miners which had approached it.

Zambia, Africa's second-largest copper producer, has become a more attractive investment proposition for mining companies since the election last August of business-friendly President Hakainde Hichilema and a subsequent mining tax reform.

The country aims to more than triple its annual copper output within the next decade to 3 million tonnes a year.
https://www.reuters.com/business/exclusive-anglo-american-re…