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

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

ANGLO AMERICAN (AAL)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

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; [email protected]

Stocks mentioned in the article : Anglo American plc, Anglo American plc
Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN -2.02% 1652.2 Delayed Quote.8.82%
BHP BILLITON LIMITED 0.49% 32.76 End-of-day quote.10.25%
BHP BILLITON PLC -0.27% 1634.2 Delayed Quote.7.63%
RIO TINTO -0.46% 4102.5 Delayed Quote.4.55%
RIO TINTO LIMITED 0.42% 83.1 End-of-day quote.9.15%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ANGLO AMERICAN
06/19ANGLO AMERICAN : agrees to increase Mitsubishi's interest in Quellaveco by 21.9%..
AQ
06/14ANGLO AMERICAN : Mitsubishi to increase interest in Quellaveco
PU
05/29ANGLO AMERICAN : De Beers sees sparkle in synthetic diamond jewellery
RE
05/24ANGLO AMERICAN : rough diamond sales value for De Beers' fourth sales cycle of 2..
AQ
05/24Deadly protests land a blow to Indian resources magnate Agarwal's ambitions
RE
05/22Anglo American PLC's De Beers Group Sold $550 Million of Diamonds in Fourth C..
DJ
05/22ANGLO AMERICAN : De Beers rough diamond sales value cycle 4, 2018
PU
05/16Russia's Alrosa sees rosy prospects from colorful diamonds
RE
05/16Rio Tinto CEO calls for 'United Nations of the mining world'
RE
05/16Rio Tinto CEO calls for 'United Nations of the mining world'
RE
More news
News from SeekingAlpha
06/18Comparison Of The 2nd Tier Of Major Miners (11 To 20) 
06/14Anglo American to proceed with Peru copper project after stake sale 
05/31Would Wider-Than-Expected Discount To Benchmark Price Make Fortescue More Com.. 
05/30De Beers to sell lab-grown diamonds to U.S. consumers 
05/29Anglo American Seriously Rethinking Iron Price Returns 
Financials ($)
Sales 2018 27 325 M
EBIT 2018 6 140 M
Net income 2018 3 532 M
Debt 2018 2 750 M
Yield 2018 5,02%
P/E ratio 2018 8,68
P/E ratio 2019 10,46
EV / Sales 2018 1,25x
EV / Sales 2019 1,23x
Capitalization 31 352 M
Chart ANGLO AMERICAN
Duration : Period :
Anglo American Technical Analysis Chart | AAL | GB00B1XZS820 | 4-Traders
Technical analysis trends ANGLO AMERICAN
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 25,7 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
Stuart John Chambers Chairman
Stephen Thomas Pearce Finance Director & Non-Executive Director
Anthony Martin O'Neill Technical Director & Director
Philip Roy Hampton Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ANGLO AMERICAN8.82%31 352
BHP BILLITON PLC7.63%122 985
BHP BILLITON LIMITED10.25%122 985
RIO TINTO4.55%96 670
RIO TINTO LIMITED9.15%96 670
FREEPORT-MCMORAN-14.24%23 556