Key Developments: Anglo American PLC (AGLJ.J)

AGLJ.J on Johannesburg Stock Exchange

26,015.00ZAc
5:59am EDT
Price Change (% chg)

-551.00c (-2.07%)
Prev Close
26,566.00c
Open
26,300.00c
Day's High
26,300.00c
Day's Low
25,730.00c
Volume
639,967
Avg. Vol
1,961,858
52-wk High
29,741.00c
52-wk Low
21,010.00c

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Latest Key Developments (Source: Significant Developments)

Anglo American PLC And Lafarge SA Announces Completion Of 50:50 Joint Venture
Tuesday, 8 Jan 2013 02:15am EST 

Anglo American PLC and Lafarge announced the completion of their 50:50 joint venture, creating the UK’s construction materials company Anglo American and Lafarge announced the completion of their 50:50 joint venture which will combine their cement, aggregates, ready-mix concrete, asphalt and asphalt surfacing, maintenance services, and waste services businesses in the United Kingdom. The joint venture will be known as Lafarge Tarmac and begins trading on January 8, 2013. Completion of the Lafarge Tarmac joint venture follows final clearance from the UK Competition Commission, predicated on the completed sale of a portfolio of Tarmac and Lafarge construction materials operations in the UK, which occurred on January 8, 2013. The agreed sale of Tarmac’s 50% ownership interest in Midland Quarry Products is subject to a right of pre-emption in favour of Hanson Quarry Products Europe Limited and, as a result, the completion of this transaction is pending. As announced on November 23, 2012, the Lafarge Tarmac leadership team includes Jamie Pike as Non-Executive Chairman, Cyrille Ragoucy as CEO and Guy Young as CFO.  Full Article

Anglo American PLC Appoints Mark Cutifani As Chief Executive
Tuesday, 8 Jan 2013 01:05am EST 

Anglo American PLC announced the appointment of Mark Cutifani as Chief Executive, with effect from April 3, 2013. Anglo American’s current Chief Executive, Cynthia Carroll, will step down from the Board at the Company’s Annual General Meeting in April 2013 and will leave Anglo American at the end of that month.  Full Article

Anglo American PLC Agrees Sale Of 70% Interest In Amapá Iron Ore Mine To Zamin Ferrous Ltd
Friday, 4 Jan 2013 02:00am EST 

Anglo American PLC announced the sale of its 70% interest in the Amapá iron ore operation in Brazil to Zamin Ferrous Ltd. (Zamin). The terms of the transaction are confidential. The transaction is expected to complete in 2013.  Full Article

Anglo American PLC Sells 16.8% Stake In Palabora Mining Company Limited For ZAR893 Million-DJ
Tuesday, 11 Dec 2012 07:40am EST 

Dow Jones reported that Anglo American PLC has reached a binding agreement to sell its 16.8% effective interest in Palabora Mining Company Limited for ZAR893 million. Anglo American participated in the sale process led by Rio Tinto which holds a 57.7% effective interest in Palabora. The purchaser is a consortium comprising South African and Chinese entities led by the Industrial Development Corporation of South Africa Limited and Hebei Iron & Steel Group, who are committed to the ongoing sustainable management of Palabora. The sale is expected to take four to six months. The purchase price is subject to customary adjustments upon closing.  Full Article

Anglo American PLC Completes Sale Of Scaw South Africa (Pty) Ltd
Monday, 26 Nov 2012 02:00am EST 

Anglo American PLC announced the completion on November 23, of the sale of Scaw South Africa (Pty) Ltd. and related companies for a total consideration of ZAR3.4 billion on a cash and debt free basis. Anglo American announced on April 24, 2012 the sale of Scaw South Africa, a South African based integrated steel maker, to an investment consortium led by the Industrial Development Corporation of South Africa (IDC) and Anglo American's partners in Scaw South Africa, being Izingwe Holdings (Pty) Limited, Shanduka Resources (Pty) Limited and the Southern Palace Group of Companies (Pty) Limited.  Full Article

Anglo American PLC And Lafarge SA Announces Sale Of Portfolio Of Tarmac And Lafarge Construction Materials Operations In UK To Mittal Investments
Friday, 16 Nov 2012 02:00am EST 

Anglo American PLC and Lafarge SA announced that they have agreed to sell a portfolio of Tarmac and Lafarge construction materials operations in the UK and Tarmac's 50% ownership interest in Midland Quarry Products Limited (MQP) to Mittal Investments, the private investment vehicle of the Lakshmi N. Mittal family. The consideration paid by Mittal Investments for the assets is GBP272 million including up to GBP30 million contingent on the performance of the underlying assets over the next three years. In addition, an estimated amount of GBP13 million, which relates to working capital of the divested assets not transferring with the business, will be released as funding to the 50:50 joint venture between Lafarge and Tarmac. The divestments, which are conditional upon regulatory approval, comprise a cement plant in Hope, Derbyshire, with a capacity of 1.4 million tonnes, and related depots; a network of 172 ready mix concrete plants; five aggregates quarries, two asphalt plants, one marine aggregates wharf and one rail-linked aggregates depot and the sale of Tarmac 50% ownership interest in MQP, which is also subject to regulatory approval and a right of pre-emption in favour of Hanson Quarry Products Europe Limited. Completion of the JV is expected in early 2013.  Full Article

Glencore International PLC Among Suitors For Anglo American PLC's Brazil Amapa Stake-Reuters
Friday, 2 Nov 2012 11:40am EDT 

Reuters reported that at least four suitors including Glencore International PLC are in the bidding process for miner Anglo American PLC's majority stake in the Amapa iron ore operation in northern Brazil. Anglo bought control of Amapa in 2008 from Brazilian billionaire Eike Batista's MMX as part of the $5.5 billion Minas Rio acquisition. But the asset has been deemed non-core and has been on the block since last year. Other bidders in the current second phase of the sale process include Russian steelmaker Severstal' OAO, privately owned mining group Zamin, which was founded by Indian commodities investor Pramod Agarwal and already owns assets in Brazil, and Australia's Centaurus Metals Ltd, also already working in the country.  Full Article

Anglo American PLC's Chief Executive To Step Down
Friday, 26 Oct 2012 02:00am EDT 

Anglo American PLC announced that Cynthia Carroll has decided to step down as Chief Executive, with the Board's agreement. Cynthia will remain in her post until a successor has been appointed and an appropriate transition has taken place. Cynthia Carroll was appointed to the Anglo American Board in January 2007 and formally took over as Chief Executive in March 2007. The process of recruiting Cynthia's successor will now commence and will be led by Sir John Parker, who will also actively support the transition when the new Chief Executive has been appointed.  Full Article

Mining giants may hoard cash as iron ore prices sag

MELBOURNE, Sept 17 - Sagging iron ore prices raise the prospect the world's biggest miners will shelve plans to return excess cash to shareholders in February, despite promises to investors who had hoped to reap the benefits of two years of austerity.

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