Anglo American PLC Mining News

De Beers diamond sales slump again in another warning sign

De Beers’ diamond sales plunged to the lowest since 2017 in the company’s latest offering, underlining a slump in the industry worldwide.

JPMorgan ends a three-year bullish call on Anglo American shares

After almost three years of rating the mining giant’s stock as overweight, JPMorgan downgraded it to neutral on Wednesday.

Anglo steps up defense to repel Agarwal's interest: Telegraph

Anglo American’s defense advisers are said to plan attacks on the quality of Vedanta’s portfolio compared to Anglo’s assets.

Rio Tinto to join World Bank's green mining program

Rio Tinto plans to offer technical consulting advice, as well as contribute $1 million over five years to the program.

A million tonnes of copper is on the way: it may not be enough

Giant mines currently under construction will churn out an additional one million tonnes of copper through 2023, but that won’t be enough.

South African mining charter challenge dents Ramaphosa plans

South African mining companies are challenging parts of a government charter aimed at redistributing the country’s mineral wealth, saying it will deter new investment in the industry.

'Radical’ foes, red tape lob doubt into Ecuador mining quest

Ecuador has tethered its economic fortunes to a burgeoning mining industry. Now it just needs to get bureaucrats and community leaders on board.

Africa Mining Indaba: Dam safety, Zambia taxes, Ford on cobalt

Executives, investors and government officials met in Cape Town at the African Mining Indaba, the continent’s biggest gathering of one of its most essential industries.

Small group of Prodeco's Colombia coal port workers to vote on strike

It is improbable that a strike would have an impact on total exports.

Anglo American rides out iron ore hitches in strong 2018

Copper production reached a five-year high, more than offsetting output declines at Minas Rio in Brazil and Kumba in South Africa.

Anglo American betting on South America to grow base metal assets

Anglo American has obtained hundreds of permits to explore in the Brazilian states of Mato Grosso and Para.

Chile's Collahuasi aims to extend output at copper mine with $3.2B project

The project at Collahuasi is one of the world's largest copper mines, with an estimated 2018 production of 545,000 tonnes.

Miners are budgeting for a recovery in copper

Don’t listen to what miners say. Look at what they do.

Anti-mine stance eases in second-largest copper producer

Cajamarca could attract as much as $18.2 billion investment in new projects, according to the Mines and Energy Ministry.

Anglo ending 2018 on high note, predicts higher output, lower costs

The diversified miner anticipates 2018 production to be 2% ahead of previous guidance and costs to be 5% below.

Anglo American to increase copper production in Chile

The revised guidance is part of the company's ongoing progress in a number of low cost copper growth opportunities.

The real cash cow in mining isn't metals. It's bad old coal

For all the bullish talk about metals of the future, miners are making some of their biggest profits from heavy-industry stalwart coal.

Coal reaching $100 a ton in Europe boosts greener alternatives

Coal’s push to $100 a ton in Europe may benefit the greenest energy providers more than it does for miners.

Top platinum mines keep digging even as price at decade low

Although about half of South African output is estimated to be unprofitable, few companies are reducing production by a meaningful amount.

De Beers will allow buyers to reject cheap diamonds

This is a rare move by De Beers, which is famous for requiring buyers to take what’s offered.

Miners set to spend $11B in search of the next jackpot

Miners and investors are poring over satellite images, tracking drilling rigs and quizzing company executives for clues.

Newmont sells stake in Yanacocha gold mine to Japan’s Sumitomo for $48 million

Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.

Mitsubishi ups stake in Anglo’s Quellaveco copper project in $600-million deal

Anglo will sell a 21.9% stake in its Peruvian copper project to Mitsubishi, increasing the Japanese firm’s stake in the venture to 40%.

Anglo close to selling part of stake in giant Peruvian copper project

Quellaveco is one of the world’s largest untapped copper orebodies and Anglo’s board is set to decide later in the year whether or not to green-light development of the $5.5bn mine.

Anglo delays Minas Rio restart until year-end, will lose about $400 million

The announcement is the last of a string of difficulties Anglo has faced with the iron ore mine, which was expected to produce 16 million tonnes this year, but that will now generate just 3 million tonnes.