MINING CORPORATIONS – GREAT BRITAIN

Coal mining crisis to hit at home

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Original article by Amanda Saunders, James Chessell
The Australian Financial Review – Page: 1 & 4 : 10-Dec-15

Anglo American CEO Mark Cutifani has revealed plans to offload or close 35 of its mines worldwide and significantly reduce its global workforce. At least four of the group’s Australian mines are expected to be affected by the restructuring, although Anglo American is likely to retain the majority of its metallurgical coal mines in Australia. Anglo American will also abandon its progressive dividend policy, and shareholders will not receive a dividend payment in 2015 and 2016.

CORPORATES
ANGLO AMERICAN PLC, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, SOUTH32 LIMITED – ASX S32, UBS HOLDINGS PTY LTD, PENGANA CAPITAL LIMITED, GLENCORE PLC, ANTAMINA, CERREJON, SAMARCO MINERACAO SA, MITSUI AND COMPANY LIMITED

BHP may cut dividend if DLC changes fail

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 21-Oct-15

CGI Glass Lewis has recommended that BHP Billiton shareholders support a resolution to transfer funds from its Australian-listed entity to its UK-listed company. The proposed payment is necessary to allow shareholders in both companies to continue receiving the same dividend payout. CGI Glass Lewis has warned that all shareholders could face lower dividend payouts if the resolution is rejected.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, CGI GLASS LEWIS PTY LTD, SOUTH32 LIMITED – ASX S32

Anglo American to cut jobs and sell assets

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 11-Dec-14

The Callide coal mine in Queensland and the Dartbrook mine in New South Wales are among the assets that Anglo American plans to divest. The global resources group will also retrench 35 per cent of its employees worldwide and aim to increase its profits by an additional $US2bn. Anglo American CEO Mark Cutifani has described 2015 as a year of "transformation" for the group

CORPORATES
ANGLO AMERICAN PLC, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

AngloAmerican says China crackdown adds to pressure

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Original article by Amanda Saunders
The Australian Financial Review – Page: 21 & 26 : 18-Sep-14

Anglo American is not concerned about China’s new quality requirements for thermal coal. CEO Mark Cutifani said that the ban will increase competitive pressure, but will have a small impact compared with the other challenges faced by the coal industry. He said that most coal exported from Australia is higher quality. Cutifani said that there is interest from buyers in the company’s coal assets

CORPORATES
ANGLO AMERICAN PLC, UBS HOLDINGS PTY LTD, MINERALS COUNCIL OF AUSTRALIA, CHINA. NATIONAL DEVELOPMENT AND REFORM COMMISSION, QUEENSLAND RESOURCES COUNCIL LIMITED

Iluka silent on Kenmare tilt

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Original article by Barry FitzGerald
The Australian – Page: 18 : 17-Jul-14

Australian-listed Iluka Resources has issued its production data for the quarter ending 30 June 2014, but the report did not make any mention of its takeover bid for UK-based Kenmare Resources. Iluka had recently been unveiled by the UK media as the suitor in a planned $A780m acquisition of Kenmare, which is attractive due to its Moma mineral sands mine in Mozambique. Iluka shares on 16 July closed 4% higher at $A8.53, as the output figures showed a year-on-year increase for zircon, rutile and synthetic rutile of 5.9% to 252,000 tonnes

CORPORATES
ILUKA RESOURCES LIMITED – ASX ILU, KENMARE RESOURCES PLC, ASX LIMITED – ASX ASX, M&G INVESTMENT MANAGEMENT LIMITED