Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

Delayed Quote. Delayed  - 09/29 05:35:21 pm
980.1 GBp   +6.11%
09/28 FTSE recovers from one-week low as miners rally
09/28 ANGLO AMERICAN : Moody's Upgrades Ratings On Anglo American, Retains..
09/26 ANGLO AMERICAN : Appoints stephen pearce as finance director
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

BHP To Restart Tasmania Manganese Operations

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/22/2012 | 07:37am CEST

--BHP to restart Temco manganese operations in Tasmania

--Cost cuts identified

--Temco's strategic fit to be considered

(Recasts 1st paragraph, adds details on the restart from 2nd, other sales plans in 7th.)

   By Robb M. Stewart 
   Of  
 

BHP Billiton Ltd.'s (BHP) loss-making manganese alloy operations in Tasmania secured a reprieve, with smelting set to resume after the mining company found areas in which to cut costs.

The mining company plans to have all four furnaces at the Tasmanian Electro Metallurgical Co. facility it jointly owns with Anglo American PLC (>> Anglo American plc) operating by the end of August, BHP said in a statement. Temco was suspended in March so the company could review its future against the backdrop of a strong Australian dollar, low manganese prices, and steady increases in costs for electricity and other items.

Bryan Quinn, president of BHP's Australian manganese assets, said costs would be reduced through improved workforce efficiency, flexibility in the power supply, and freight changes. Temco would also be freed from ties to BHP's mining operation in the Northern Territory, allowing it to blend in ore from other sources.

The headcount at Temco, which is located on the coast of Australia's southern island state, will be reduced through an employment freeze, natural attrition and the redeployment of some workers within BHP, the Melbourne-headquartered company said.

Temco is part of Samancor Manganese, a 60-40 venture between BHP and Anglo American that owns assets in Australia and South Africa. The Tasmanian operation began in 1962 and, when operating, produces roughly 65,000 metric tons of silico manganese and 240,000 tons of high-carbon ferro manganese a year.

"One of the key changes as we restart will be the operational separation of the Temco alloying facility from the Gemco mine," said Tom Schutte, president of BHP's manganese division, adding that the move would improve operating performance and allow BHP to consider the "strategic fit" of the Temco operations within the company's portfolio.

BHP last year said it was reviewing for possible sale its diamonds business, and earlier this year that it had exercised an option to sell its 37% interest in the Richards Bay Minerals heavy mineral sands venture in South Africa to partner Rio Tinto PLC (RIO).

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com

Stocks mentioned in the article : Anglo American plc, Anglo American plc
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ANGLO AMERICAN PLC
09/28 FTSE recovers from one-week low as miners rally
09/28 ANGLO AMERICAN : Moody's Upgrades Ratings On Anglo American, Retains Positive Ou..
09/26 ANGLO AMERICAN : Appoints stephen pearce as finance director
09/23DJDe Beers Bets Big on Canadian Mine
09/23DJANGLO AMERICAN : Correction to Story on De Beers's New Diamond Mine in Canada
09/23DJANGLO AMERICAN : Correction to Anglo American's New CFO Story
09/23 ANGLO AMERICAN : Brings In Experienced Australian For Finance
09/23DJANGLO AMERICAN : Appoints Fortescue's Stephen Pearce as CFO
09/23DJANGLO AMERICAN : Hunting for Diamonds in Canada's Home of Big Rabbits
09/23 ANGLO AMERICAN : names new finance director
More news
Sector news : Integrated Mining
09/29DJIn South Australia, Blackout Shuts Mines, Reignites Renewables Debate -- Upda..
09/29DJBHP Billiton Shuts Down Olympic Dam Mine Amid Blackout
09/28 FTSE recovers from one-week low as miners rally
09/27 TECK RESOURCES : keen to regain investment-grade credit rating - CFO
09/27DJSamarco Mineraç ã o Bonds Plummet After Missed Interest Payment
More sector news : Integrated Mining
News from SeekingAlpha
09/26 Anglo American Turns To Fuels To Augment Future Revenue Streams
09/14 De Beers sees tough sales environment as critical holiday sales approach
09/12 The Historic Fall And Rise Of Met Coal And The Bullish Case For BHP
09/06 De Beers sells $630M of diamonds in latest sales cycle
08/15 REPORT : Anglo American pressed to break up by top investor
Advertisement
Financials ($)
Sales 2016 20 205 M
EBIT 2016 2 512 M
Net income 2016 472 M
Debt 2016 10 318 M
Yield 2016 -
P/E ratio 2016 33,23
P/E ratio 2017 13,56
EV / Sales 2016 1,35x
EV / Sales 2017 1,28x
Capitalization 16 864 M
More Financials
Chart ANGLO AMERICAN PLC
Duration : Period :
Anglo American plc Technical Analysis Chart | AAL | GB00B1XZS820 | 4-Traders
Full-screen chart
Technical analysis trends ANGLO AMERICAN PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 10,9 $
Spread / Average Target -9,1%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
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
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ANGLO AMERICAN PLC208.47%16 864
BHP BILLITON PLC44.34%82 819
BHP BILLITON LIMITED20.38%82 819
RIO TINTO PLC24.27%61 462
RIO TINTO LIMITED11.85%61 462
GRUPO MEXICO S.A. DE C..26.15%19 277
More Results