Diamond – Rio Tinto is still looking to sell its diamond unit as Dominion Diamond and Anglo American seek to increase their exposure to the industry.
Articles Tagged "anglo american plc"
Diamond – Diamond Investing News spoke with Paul Zimnisky, CEO of PureFunds, about his company's unique, recently launched diamond and gemstone ETF.
Diamond – Bloomberg reported that De Beers SA, which is 85% owned by Anglo American Plc, will invest $2.3 billion to construct an underground diamond mine in South Africa, below its Venetia-open pit operation.
Iron – Bloomberg reported that the owner of Africa’s largest iron ore mine, Kumba Iron Ore Ltd., said its full-year profit drops 28% on rising costs and reduced production and prices.
Platinum – Bloomberg reported that platinum rose for a fifth day to peak level in over 16 months on concerns that South African supplies will decline. The metal continues to perform well in spite of incoming Anglo American Plc CEO, Mark Cutifani’s comments that the industry has a lot of issues.
Platinum – Bloomberg reported that the biggest producer of platinum, Anglo American Platinum, reported a headline loss for 2012. Last month the company proposed to shut down four of its mineshafts in order to stem losses brought about by a two-month strike and also to curb operating costs.
Iron – Bloomberg reported that Anglo American Plc said iron ore production in its Kumba Iron Ore unit went down in the fourth quarter due to strikes.
Platinum – Bloomberg reported that mining company Anglo American Plc said its fourth quarter platinum production went down 29% because of the strikes in South Africa.
As share prices stagnate on the back of tough markets, resources companies are trying new tricks to attract investor interest.
Platinum – The Wall Street Journal reported that as Anglo American PLC threatened to close down its South African mines, the price of platinum has risen by 11.4% and has overtaken gold for the first time in almost a year.