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

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 | 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
07/21 FTSE, sheltered from euro strength, has best week since May
07/20DJAnglo American Upgrades Kumba Iron Ore's 2017 Production Guidance
07/20 ANGLO AMERICAN : Q2 Production Report 2017
07/19 ANGLO AMERICAN : Highlands Pacific Ltd - Star Mountains management to be transfe..
07/17 European shares steady after touching three-week high; Weir Group, Telenor le..
07/14 EXCLUSIVE - WASHINGTON COMPANIES IN : sources
07/14 FTSE falters, narrowing weekly gain; Carillion sees small bounce
07/11 FTSE down as defensives, Pearson and M&S fall; Carillion crumbles
07/10 FTSE firms as Carillion gets crushed
06/28 ANGLO AMERICAN : Botswana's Debswana to extend Jwaneng diamond mine life beyond ..
More news
News from SeekingAlpha
07/20 South African minister threatens to restrict renewal of mining rights
07/11 ANGLO AMERICAN : Let It Grow
06/30 Iron ore surges into bull territory as China sentiment strengthens
06/26 South African miners ask High Court to block government charter
06/15 South Africa to require local mines be 30% black-owned
Financials ($)
Sales 2017 24 493 M
EBIT 2017 5 328 M
Net income 2017 2 853 M
Debt 2017 5 451 M
Yield 2017 3,98%
P/E ratio 2017 6,69
P/E ratio 2018 8,77
EV / Sales 2017 1,03x
EV / Sales 2018 1,04x
Capitalization 19 885 M
Chart ANGLO AMERICAN
Duration : Period :
Anglo American Technical Analysis Chart | AAL | GB00B1XZS820 | 4-Traders
Technical analysis trends ANGLO AMERICAN
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 16,6 $
Spread / Average Target 17%
EPS Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
John Parker Non-Executive Chairman
Stephen Thomas Pearce Executive Director & Finance Director
Anthony Martin O'Neill Director & Technical Director
René Médori Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ANGLO AMERICAN-5.91%19 885
BHP BILLITON PLC-0.08%98 334
BHP BILLITON LIMITED-2.27%98 334
RIO TINTO LIMITED5.26%81 186
RIO TINTO6.16%81 186
GRUPO MEXICO S.A. DE C.V.-1.83%24 641