Anglo American has suspended hiring globally, it said on Thursday, as it gets plans under way to simplify itself and build value – and avert a $43-billion takeover bid by Australia’s BHP. Anglo laid out plans on Tuesday to refocus its company on energy transition metal copper while spinning out or selling its less profitable coal, nickel, diamond and platinum businesses, as it moves to fend off the world’s biggest miner.
State mining training authority backing green hydrogen skills centre creation
“We’re very excited to announce that we’ll be establishing the first centre of specialisation of green hydrogen skills,” South Africa’s Chemical Industries Education and Training Authority (CHIETA) CEO, Yershen Pillay, made public this week. CHIETA is working on this with South Africa’s mining and transport sector education and training authority units, Pillay highlighted at this week’s Green Hydrogen Roundtable, hosted by Nedbank Corporate and Investment Banking (CIB).
Half of mining industry still resisting AI integration
At least half of heavy machinery users within the global mining industry still rely primarily on manual supply chain management tools, with 40% still using manual tools for operational planning, Wits Mining Institute’s Professor Glen Nwaila has said. “So even if the automation is partially achieved, you will find that the plant is heavily automated but, in the mine, only a portion of it is actually automated,” he said, speaking at the Mind Shift conference hosted by Mine Equipment Manufacturers of South Africa, in Sandton, on May 15.
BHP shareholders see room for one more sweetened Anglo bid
Shareholders in BHP Group and takeover target Anglo American expect the world’s largest miner to come back with a third and improved proposal before a regulatory deadline next week, even after the smaller company laid out a bold restructuring plan of its own on Tuesday. Anglo has twice rejected all-share approaches from BHP that would require it to spin off listed South African businesses, arguing the proposal created “significant uncertainty” for shareholders. Instead, to counter the latest $43-billion move, it has said it will itself exit diamonds, platinum and coal, turning into a miner focused on copper and iron ore — crown jewels for the group.
Atlantic appoints versed Ghanaian lawyer, corporate banker to its board
Aim-, ASX- and Ghana Stock Exchange-listed Atlantic Lithium has appointed Edward Koranteng as nonexecutive director to the board effective immediately.
As a lawyer and experienced corporate investment banker with experience in Ghana, he can support the company’s objectives of delivering the country’s first lithium mine.
Execution risk to Anglo’s restructure plan substantial – WoodMac
Mining major Anglo American has accelerated its portfolio planning in the wake of rejecting fellow mining major BHP’s second bid proposal of $42.2-billion (£34-billion), or £27.70 a share, in a move that new research by consulting firm Wood Mackenzie (WoodMac) shows will take it from being the most diversified to the most concentrated major miner in the world. The report titled ‘Anglo American to rationalise all but copper and iron-ore production’ states that the company’s decision to take a strategic focus on the highest return commodities of copper and iron-ore mirrors similar moves by BHP and diversified miner Rio Tinto in looking to future-proof the business.
Lucapa puts Lesotho diamond mine up for sale
Australia-listed Lucapa Diamonds on Wednesday announced the planned divestment of its 70% interest in the Mothae mine, in Lesotho.
This follows a review of the asset portfolio by the company’s newly structured board of directors.
Anglo ditching De Beers is hard blow for troubled diamond market
The diamond industry has already been feeling the heat. Prices have slumped, Russian sanctions are threatening trade and the emergence of lab-grown gems is eating into some key traditional markets.
Now, the sector’s most dominant name is being cast adrift.
Anglo American on Tuesday said it will spin off or sell its De Beers business, ending an almost century-long relationship with the industry’s most famous name. The move, part of a wider restructuring to fend off a $43-billion approach from BHP Group, is a seismic shock for the diamond world.
De Beers IPO considered amid break-up plans, sources say
Anglo American is exploring an initial public offering of its diamond business De Beers, two people familiar with the matter told Reuters on Tuesday, with one flagging London as the preferred venue.
The potential listing was the default option, the second person said, although the process is at an early stage. Both were speaking on condition of anonymity because the plans are private.
Anglo-BHP battle is between two CEOs fighting over same vision
As Anglo American sets out a survival plan that echoes the vision of its suitor BHP Group, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job.
Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took center stage on Tuesday, as the personalities behind two of the world’s biggest miners came to the fore. Wanblad presented his own radical turnaround plan to investors, before Henry made his first public remarks on BHP’s bid at a conference in Miami.