The company plans to invest a $308 million (R$1 billion) this year to allow the iron ore mine reach a 26.5 million tonnes a year capacity.
Anglo American Mining News
The diamond producer by value sold $418 million of gems in its 10th cycle, compared with $476 million at its previous offering, which shows demand has slowed since India's withdrawal of high-value bills.
Together with reducing Sibanye’s dependence on its aging South African assets, the deal will make the company the world's third largest palladium producer, the company said.
While the miner is not longer being pressed to include its platinum assets in the divestment plan, the issue of how to package mines and which ones to include, remains a bone of contention.
Global rough diamond production will reach its peak in only three years before entering into a supply deficit by 2020, two separate reports show.
Suit claims company failed to report mercury levels at five of nine water monitoring stations near Victor mine.
Move takes the group’s total investment in the Indian city of Surat, which has the largest concentration of diamond skilled workers in the world, to $15 million.
Kumba Iron Ore, a business unit of Anglo American has been named as one of the Carbon Disclosure Leaders for 2016 by Engaged Tracking (ET) Index Research and the only company from the BRICS region on the list in its annual ET Carbon Rankings, released on 5 December.
Decision follows a fresh attack by hooded protesters who seized installations over the weekend.
About 100 hooded protesters have seized parts of the copper mine, Anglo American's biggest operation in Chile.
The world’s top diamond producer by value said results were in line with expected seasonal demand patterns.
Production costs in Chile, the world’s No. 1 copper producer, were 5.4% higher last year when compared to its global peers’ average.
The deal includes a 17% interest in the Port Kembla Coal Terminal, south of Sydney.
Kumba is pleased to announce the appointments of Ms Nonkululeko Dlamini (nee Veleti) and Mr Seamus French as non-executive directors to the Board, with effect from 1 November 2016.
Shares were up more than 5% after the firm posted higher output across all divisions, except for copper, and said market conditions for its diamond business had improved.
South Africa has granted the miner, a unit of Anglo American, previously disputed mining rights at the operation, ending a seven-year dispute.
The company remains confident the sale of its Rustenburg mines in South Africa to Sibanye Gold will clear its last regulatory hurdle before the end of the year.
Still, the world’s biggest diamond producer by value said the auction was better than it had expected.
Thrasher's Xcoal and private equity firm Apollo said to be in exclusive talks to buy Anglo American's mines in Queensland amid coking coal price surge.
They will appeal verdict that paved the way for about half a million current and former miners to proceed with a multi-million-dollar suit, which seeks compensation for those who contracted lung diseases.
Gahcho Kué, a joint venture between De Beers Canada (51%) and Mountain Province Diamonds (49%), is expected to inject $5.2bn into Canada’s economy.
Los Bronces, Anglo American’s flagship operation, is expected to produce between 600,000 and 630,000 tonnes of copper this year.
De Beers, the world's biggest diamond producer, warns that many of the challenges affecting the industry last year are likely to continue over the next decade.
Anglo American Platinum forced to stockpile concentrate and shut down smelter in South Africa responsible for one fifth of its refined platinum output.
Miners at one of Chile's largest copper operations walked off the job on Friday morning after rejecting the majority-owner's final offer in collective wage talks.