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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Anglo American plc    AAL   GB00B1XZS820

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Anglo American Platinum Testing Fuel Cell Locomotive

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05/09/2012 | 12:44pm CEST

Anglo American Platinum Ltd. (AMS.JO) said Wednesday it's testing a platinum-based fuel cell-powered mining locomotive, in order to try and jumpstart a fuel cell industry in South Africa.

The world's largest platinum miner said it's working with partners to develop a locomotive which it will then test in one of its mines underground. Anglo American Platinum, a unit of Anglo American PLC (>> Anglo American plc), said it's working with Vehicle Projects, Trident South Africa, and Battery Electric.

"A South African fuel cell industry would support the country's drive for jobs and help to meet its energy challenges," Anglo American chief executive Cynthia Carroll said.

Anglo American said hydrogen powered fuel cell locomotives are more economical and environmentally friendly than traditional rail transport. A fuel cell is essentially a gas battery that produces electricity as long as it is fed with hydrogen gas.

The company is also working with government departments to develop a fuel cell industry in South Africa, and the "collaborative work is intended to enable the development of a local fuel cell manufacturing, distribution, marketing and servicing industry which will be globally competitive," Anglo American said.

-By Devon Maylie, Dow Jones Newswires; +27117837848; devon.maylie@dowjones.com

(MORE TO FOLLOW) Dow Jones Newswires

05-09-12 0643ET

Stocks mentioned in the article : Anglo American plc, Anglo American plc
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Financials ($)
Sales 2016 20 258 M
EBIT 2016 2 468 M
Net income 2016 472 M
Debt 2016 10 267 M
Yield 2016 -
P/E ratio 2016 35,13
P/E ratio 2017 14,00
EV / Sales 2016 1,39x
EV / Sales 2017 1,31x
Capitalization 17 890 M
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Mean consensus HOLD
Number of Analysts 25
Average target price 11,3 $
Spread / Average Target -11%
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Mark Cutifani Chief Executive Officer & Executive Director
John Parker Non-Executive Chairman
René Médori Executive Director & Finance Director
Anthony Martin O'Neill Director & Technical Director
Philip Roy Hampton Senior Independent Non-Executive Director
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