Focus on services sector as Tuesday's company diary very quiet
UK and US services sector purchasing managers’ index surveys are likely to come in around all-time lows
Company
LON:AAL
Anglo American is a leading global mining company focused on the responsible production of copper, premium iron ore and crop nutrients – future-enabling products that are essential for decarbonising the global economy, improving living standards, and food security. The company's portfolio of world-class operations and outstanding resource endowments offers value-accretive growth potential across all three businesses, positioning it to deliver into structurally attractive major demand growth trends.
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UK and US services sector purchasing managers’ index surveys are likely to come in around all-time lows
The company has identified a path to early development that aims to position Longonjo as an important supplier of NdPr raw materials to meet demand from the electrification of vehicles.
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“Strict social distancing measures are allowing essential work to progress” at the Yorkshire mining project
The miner will pay the final dividend for 2019 as planned on 7 May, subject to shareholder approval
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The bank also warned that an explosion at the company’s PGM converter in South Africa last week will hit cashflow “significantly” in 2020
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Next week Sirius shareholders are scheduled to vote on the £400mln deal
Investors are expected to question the rationale of the potential £400mln deal announced last month due to capital expenditure and commodity prices
“We have delivered our full year production targets across the business,” said chief executive Mark Cutifani
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Sirius Minerals (SXX LN) / Anglo American (LON:AAL) - Anglo American agrees to buy Sirius Minerals for 5.5/s (£404m) Chaarat Gold* (CGH LN) 36p, Mkt Cap £169m – Issue of shares Keras Resources* (KRS LN) – Keras hires local team for Q1 start
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A glance at some of the day's highlights from the Proactive Investors newswire
Anglo's 5.5p offer has been recommended by the Sirius Minerals board, and, the takeover offer will now go to a shareholder vote.
Deutsche Bank analysts view copper as the “best positioned metal”, while aluminium and zinc prices are expected to remain rangebound, and iron ore prices “should remain supported” in the first half
“Sirius has spent US$1.1bn on the project so far & estimates an additional US$3.1bn is needed to complete the project.”
The rise and demise of Sirius Minerals has been one of the UK market's top stories in recent years, news that mining major Anglo American is looking to buy-out the former small-cap has naturally ruffled feathers.