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

Delayed Quote. Delayed  - 09/22 05:35:27 pm
1333 GBp   +0.11%
09/22 Volcan Investment by Majority Shareholder of Vedanta Resources Pl..
09/21 ANGLO AMERICAN : Result of Tender Offer
09/21 Hedge funds bet on bright future for metals
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

BHP To Restart Tasmania Manganese Operations

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/22/2012 | 01:37am EDT

--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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ANGLO AMERICAN
09/22 Volcan Investment by Majority Shareholder of Vedanta Resources Plc
09/21 ANGLO AMERICAN : Result of Tender Offer
09/21 Hedge funds bet on bright future for metals
09/21 ANGLO AMERICAN : Indicative Results of Tender Offer
09/20DJVolcan Investments to Become Top Shareholder in Anglo American
09/20 ANGLO AMERICAN : Indian billionaire Agarwal to buy bigger stake in Anglo America..
09/14 FTSE hits bump on sterling jump after Bank of England rate hike signal
09/13 Sterling's slip from one-year high curbs FTSE losses
09/13 ANGLO AMERICAN : Result of Tender Offer
09/13 ANGLO AMERICAN : Tender Offer
More news
News from SeekingAlpha
09/22 Iron ore plunges as China's environmental curbs cause "serious impact"
09/20 Agarwal to lift Anglo American stake by $2B
09/20 Iron ore prices slide amid Chinese demand doubts, peak steel warning
09/14 South Africa places controversial new mining charter on hold
09/14 Base metals miners lose ground amid signs of slowing China economy
Financials ($)
Sales 2017 25 139 M
EBIT 2017 5 297 M
Net income 2017 2 743 M
Debt 2017 5 809 M
Yield 2017 4,62%
P/E ratio 2017 8,27
P/E ratio 2018 10,63
EV / Sales 2017 1,24x
EV / Sales 2018 1,24x
Capitalization 25 422 M
Chart ANGLO AMERICAN
Duration : Period :
Anglo American Technical Analysis Chart | AAL | GB00B1XZS820 | 4-Traders
Technical analysis trends ANGLO AMERICAN
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 17,5 $
Spread / Average Target -3,0%
EPS Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
John Parker Non-Executive Chairman
Stuart John Chambers Chairman-Designate
Stephen Thomas Pearce Executive Director & Finance Director
Anthony Martin O'Neill Director & Technical Director
Sector and Competitors
1st jan.Capitalization (M$)
ANGLO AMERICAN14.78%25 422
BHP BILLITON LIMITED4.51%104 669
BHP BILLITON PLC2.87%104 669
RIO TINTO9.72%87 202
RIO TINTO LIMITED10.28%87 202
GRUPO MEXICO S.A. DE C.V.-1.86%23 812