Edition:
United States

Anglo American PLC (AGLJ.J)

AGLJ.J on Johannesburg Stock Exchange

14,626.00ZAc
6:21am EDT
Change (% chg)

71.00c (+0.49%)
Prev Close
14,555.00c
Open
14,700.00c
Day's High
14,800.00c
Day's Low
14,395.00c
Volume
1,019,497
Avg. Vol
4,422,885
52-wk High
16,670.00c
52-wk Low
5,082.00c

Latest Key Developments (Source: Significant Developments)

Anglo American PLC - Job cuts to escalate in South African mines as global economy slows - Reuters
Monday, 15 Feb 2016 02:54am EST 

Anglo American PLC:Job losses in South Africa's mining sector are likely to accelerate with mining companies such as Glencore and Anglo American battling to cope with a global commodity price slump - RTRS.The government has warned that 32,000 workers in the sector could lose their jobs as metals prices fall due to slowing economic growth in China, the world's biggest metals consumer. Industry officials predict more than 50,000 job cuts.Companies in the industry, which employs about 500,000 people and contributes around 7 percent to South Africa's GDP, say they have little choice but to cut jobs and close struggling mines to cope.But with more than a quarter of the working population unemployed the job losses could trigger labour unrest and erode support for the ruling African National Congress (ANC) in local government polls expected after May.Roger Baxter, chief executive of the Chamber of Mines, which groups mining firms, said the industry shed around 47,000 jobs between 2012 and the first quarter of 2015.Anglo American Platinum , and Kumba Iron Ore have announced they will cut thousands of jobs in South Africa.Besides cutting jobs Lonmin LMI.L is closing shafts after issuing a rights issue to shore up its balance sheet. CEO Ben Magara has said he will not shy away from a takeover or merger.Miner and trader Glencore is also considering closing its Eland platinum mine in South Africa, putting just under 1,000 jobs there at risk.  Full Article

Anglo American PLC to lay off 10 pct of workers at Chile's El Soldado mine - Reuters
Friday, 12 Feb 2016 12:44pm EST 

Anglo American PLC:Global miner Anglo American said on Friday that it will lay off 10 percent of staff, equivalent to 150 workers, at its El Soldado copper mine in central Chile as a steep slide in metals prices forces it to cut costs - RTRS.Under the plan, Anglo sees El Soldado's plant production increasing and savings created through operational efficiencies. - RTRS.Anglo announced plans in December to whittle down its business to cope with severe falls in commodity prices. The plan involves offloading three-fifths of its assets - RTRS.  Full Article

Anglo American PLC - Grinding halted at Anglo's Los Bronces mine after pipe leak - Reuters
Sunday, 7 Feb 2016 07:23pm EST 

Anglo American PLC:Anglo American Plc said on Sunday it had halted grinding at its Los Bronces copper mine in Chile after detecting a leak in a pipe carrying ground ore mixed with water - RTRS.The leak was found on farmland outside the capital Santiago during a routine dawn inspection of the more than 50-km(31-mile)-long pipe, which connects the company's flagship mine with the Las Tortolas flotation plant - RTRS.Los Bronces produces roughly 7 percent of copper in Chile, the world's leading producer of the red metal. By late on Sunday, the company had not given further details about the state of operations. - RTRS.Anglo American said the pipe does not carry tailings from the mining process and that an investigation was underway - RTRS.Chile's environment regulator hit Anglo American with a $6.24 million fine in May and ordered the miner to shut one of its waste dumps at the Los Bronces mine, saying irreparable damage had been done to surrounding land. - RTRS.  Full Article

Anglo American plc announces sale of Callide mine
Wednesday, 20 Jan 2016 02:00am EST 

Anglo American plc:Says that it has entered into a share sale agreement (SSA) with Batchfire Resources Pty Ltd to sell its 100 pct. interest in Callide thermal coal mine in Queensland, Australia.Says transaction will be effected via a sale of shares in the subsidiary companies holding Anglo American's interest in Callide.  Full Article

Anglo American PLC retreats as commodity slump bites - Reuters
Tuesday, 8 Dec 2015 04:26am EST 

Anglo American PLC:Anglo American aims to sell more assets, suspend dividends until the end of 2016 and whittle its business down to three divisions to cope with severe falls in commodity prices, the mining company said on Tuesday - RTRS.The overhaul at Anglo American highlights the scale of the fallout from the commodities slide, which is forcing mining companies across the board to cut jobs, investment and costs - RTRS.Anglo, the world's fifth-biggest global miner by market value, said it planned to offload three-fifths of its assets, reducing its workforce to just 50,000 from 135,000 now - RTRS.  Full Article

Anglo American PLC - De Beers suspends operations at Canada's Snap Lake diamond mine - Reuters
Friday, 4 Dec 2015 12:02pm EST 

Anglo American PLC:De Beers Canada said on Friday that operations have been suspended at its unprofitable Snap Lake diamond mine in the Northwest Territories, due to poor market conditions, and it will evaluate the mine's potential over the next year - RTRS.De Beers, which is 85 percent owned by Anglo American Plc AAL.L and 15 percent owned by the government of Botswana, said that work to put the underground mine on care and maintenance has begun and is expected to last from one to nine months - RTRS.The mine, 220 kilometers (137 miles) northeast of the territorial capital of Yellowknife, has not made any money since it began production in 2008 and was planned to operate until 2028 - RTRS.De Beers said 434 employees have been terminated and that it will employ 120 employees for the suspension work, while ongoing care and maintenance operations will require about 70 staff. - RTRS.De Beers said 434 employees have been terminated and that it will employ 120 employees for the suspension work, while ongoing care and maintenance operations will require about 70 staff. - RTRS.  Full Article

Anglo American PLC to lay off up to 140 workers in Chile - Reuters
Friday, 16 Oct 2015 08:00pm EDT 

Anglo American PLC:Anglo American will lay off between 120 and 140 workers in Chile, including at its flagship Los Bronces copper mine and offices in the capital Santiago, the company said on Saturday - Reuters."These 120 to 140 positions are in services and support. We're not talking about workers at the mine, or plant or people directly involved in production," a company spokesman told Reuters. - Reuters.  Full Article

Anglo American PLC - South African union signs wage deal to end coal strike - Reuters
Monday, 12 Oct 2015 08:00pm EDT 

Anglo American PLC:South Africa's National Union of Mineworkers (NUM) signed a wage deal with coal producers on Tuesday, ending a strike by the sector's biggest union that started over a week ago, workers and mining companies said - Reuters.The strike by around 30,000 NUM members had affected operations at Exxaro, Glencore, and Anglo American, and some smaller producers - Reuters."The parties have now concluded an agreement after a lengthy and dynamic process. It wasn't easy. All of us had to steer the ship through the rocky waters," said Peter Bailey, NUM's chief negotiator in the coal sector - Reuters.The deal will see the lowest paid workers receive wage increases of up to 1,000 rand ($75) per month in the first year, and another 7.5 percent raise in the second year - Reuters.The NUM had initially sought a 50 percent rise for its lowest paid workers, who make about 6,000 rand ($445) a month in basic pay, before scaling those back demands - Reuters.Higher earning employees will receive increases of between 5 percent and 7.5 percent in both years - Reuters.However, South Africa's Association of Mineworkers and Construction Union (AMCU), which represents less than 1 percent of South Africa's coal mining sector workers, rejected the wage offer, a union official said - Reuters.  Full Article

Anglo American PLC - S.Africa court to decide on silicosis class action against gold sector - Reuters
Sunday, 11 Oct 2015 08:00pm EDT 

Anglo American PLC:A South African court on Monday began two weeks of hearings to determine if gold miners suffering from debilitating lung diseases they say they contracted at work can proceed with a class action lawsuit against the industry - RTRS.The industry is opposed to the lawsuit proceeding as a class action, which would enable plaintiffs to join forces as a "class" as opposed to thousands of individual cases - RTRS.Working deep underground for years without proper protection, countless South African miners inhaled silica dust from gold-bearing rocks and later contracted silicosis - RTRS.A disease which causes shortness of breath, a persistent cough and chest pains, it makes people highly susceptible to tuberculosis, which kills - RTRS."If the court certifies the class, the lawsuit will proceed as the largest ever class action law-suit in the coun-try and on the continent," the Legal Resources Centre, a human rights group which has joined the case, said in a statement on Monday - RTRS.Attorney Richard Spoor, whose legal battle against a South African asbestos-mining company led to a $100 million settlement in 2003, told Reuters he had signed up more than 30,000 former miners and their dependants for the lawsuit - RTRS.Another law firm, Abra-hams Kiewitz, has also joined the suit, which targets AngloGold Ashanti, Harmony Gold, Sibanye Gold, Gold Fields, Anglo American, DRDGold, & African Rainbow Minerals - RTRS.  Full Article

Anglo American PLC - South African miners' union says revised pay offer could end coal strike - Reuters
Thursday, 8 Oct 2015 08:00pm EDT 

Anglo American PLC:South Africa's National Union of Mineworkers will consult members at a Sunday meeting on a revised wage offer from coal producers, union officials said on Friday, raising hopes that an end to a six-day strike was in sight - Reuters.Following two days of talks the Chamber of Mines, which represents six coal companies, presented an improved offer which it said was well received by the unions - Reuters.The new offer could see the lowest paid workers receive wage increases of up to 1,000 rand ($74.99) per month in year one and hikes of up to 7.5 percent in the second year - Reuters.Employees in the higher categories could receive increases of between 5 percent and 7.5 percent in both years - Reuters.The NUM union had initially sought a 50 percent rise for its lowest paid workers, who make about 6,000 rand ($445) a month in basic pay, before scaling that back to a demand of 1,000 rand for lower tier earners - Reuters.Negotiations had stalled earlier on Friday, with NUM blaming resources giant Glencore for bringing talks to end the strike to a halt.About 30,000 NUM members downed tools on Sunday evening at mines run by Glencore, Anglo American, Exxaro and some smaller producers, threatening supplies of coal to state-run power utility Eskom.  Full Article

CORRECTED-UPDATE 1-UK Stocks-Factors to watch on July 25

July 25 Britain's FTSE 100 index is seen opening up 7 points on Monday, according to financial bookmakers. Futures for the index were up 0.1 percent ahead of the cash market open.