Anglo American and Chilean state-owned Codelco have signed a memorandum of understanding (MoU) to jointly develop adjacent copper mining projects in Chile. The partnership will establish a new entity to coordinate operations at the Los Bronces and Andina mines. The combined copper reserves from both sites account for 2% of global copper deposits, totaling 60...
READ MOREAnglo American has announced the signing of a memorandum of understanding (MoU) between its 50.1% owned subsidiary, Anglo American Sur SA (AAS), and Chilean state-owned mining company Codelco. The agreement outlines a framework for a joint mine plan for their adjacent copper mines, Los Bronces and Andina, aiming to increase copper production with minimal additional...
READ MOREAnglo American has entered into a definitive agreement to sell its nickel business to MMG Singapore Resources, a subsidiary of MMG Limited, for up to $500 million. The transaction includes two ferronickel operations in Brazil—Barro Alto and Codemin—as well as two greenfield growth projects, Jacaré and Morro Sem Boné. The deal comprises an upfront cash...
READ MORELondon-based mining company Anglo American announced that it expects to finalize the demerger of Anglo American Platinum by June 2024. The company also confirmed that Anglo American Platinum has declared its final dividend for 2024, along with an additional cash dividend, totaling 16.5 billion rand ($0.9 billion). As a 67% stakeholder, Anglo American anticipates receiving...
READ MOREAnglo American Platinum (Amplats) continues to grapple with weak platinum group metal (PGM) prices and a high-cost structure, leading to production cuts and significant workforce reductions. The South African miner retrenched 3,700 employees in 2024 and is undergoing further restructuring due to its ongoing demerger from Anglo American, expected to conclude by mid-2025. Despite these...
READ MOREAnglo American announced on Thursday that its fourth-quarter copper production fell by 14% to 198,000 tons, down from 230,000 tons in the same period last year. The decline was attributed to the planned shutdown of the smaller, costlier Los Bronces plant and expected lower grades at the Collahuasi operation, both located in Chile. Iron ore...
READ MOREAnglo American plans to finalize the unbundling and London listing of Anglo American Platinum (Amplats) by mid-2025, while the timeline for divesting its 85% stake in De Beers remains uncertain. The company is progressing with its restructuring strategy, which began last year following BHP’s unsuccessful takeover attempt. CEO Duncan Wanblad emphasized that Anglo is focused...
READ MOREAnglo American has completed the sale of its 33.3% stake in Jellinbah Group Pty Ltd to Zashvin Pty Ltd ahead of schedule. The transaction, initially expected to close in the second quarter of 2025, brings in total cash proceeds of AUD1.6 billion (approximately USD1.0 billion), including AUD228 million previously received. Jellinbah Group holds a 70%...
READ MOREMining company BHP has decided to halt its planned acquisition of competitor Anglo American, according to reports from the Financial Times. The deal, initially valued at £38 billion, has become unfeasible due to changing market conditions and strategic developments by Anglo American. Anglo American’s restructuring efforts, which include exiting operations in coal, diamonds, and platinum,...
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