Anglo American reveals senior leadership changes as CEO of bulk commodities to step down
Mkhwanazi joined Anglo American in 2014 and was previously CEO for the thermal coal business in South Africa
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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Mkhwanazi joined Anglo American in 2014 and was previously CEO for the thermal coal business in South Africa
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The FTSE 100 was unable to end in the green shedding 21 points by the close to sit at 7,086
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Footsie finished nearly 11 points, or 0.16%, to the good, at 7,027
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The FTSE 100 index closed down despite declining US inflation that have helped ease fears around Fed tapering
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Anglo American (LON:AAL) 3,096p, Mkt Cap £42.1bn – De Beers reports continuing strength in rough diamond demand driven by appetite for polished diamonds in China and the US
“Demand for rough diamonds is a result of robust demand for polished diamonds in our key markets of the US and China,” said Bruce Cleaver, chief executive of De Beers
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The UK's index of premier shares finished down more than 110 points, or 1.54%, at 7,058, having at one point been at 6,993
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The UK index of premier shares finished over 61 points higher, or 0.88%, at 7,078, off the session peak of 7,093 and above the low of 7,008
Amplats is the world's largest primary producer of platinum
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Power Metal Resources* (AIM:POW) 2.03p, Mkt cap £24.2m – Soil sampling extends Morula Target Geochemical Anomaly to Over 18km Kavango Resources (LON:KAV) 5.45p Mkt cap £20m (South Ghanzi is held under a 50/50 Joint Venture) with Kavango Res
Anglo American is the world's fourth-largest diversified miner
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There will also be eyes on the US as earnings season picks up the pace with numbers due from Netflix, Coca Cola and Johnson & Johnson among others
Citigroup sees no significant change to full-year guidance from the largest mining companies
Mining valuations still look compelling, even if demand for some commodities is slowing
"Overall sentiment is increasingly optimistic as we move towards the second half of the year," said Bruce Cleaver, chief executive of De Beers
Anglo has consistently outperformed its peer group each year since 2017, says RBC
Thungela means "to ignite" in isiZulu and today's listing has done that among investors
Broker highlights some potential winners and losers if prices keep on rising
US$380mln of rough diamonds were sold in the fourth sales cycle, down from US$450mln in the third
Overall, first-quarter production was at 95% of normal capacity partly due to COVID-19 constraints at some operations