Anglo American - (Seite 62)

[jerobeam]

Antwort auf Beitrag Nr.: 39.299.601 von R-BgO am 09.04.10 08:53:36

ich sag' ja, irgendwann bleibt gar nichts mehr übrig.

Andere kaufen zu und konsolidieren, Anglo verkauft das Tafelsilber um seine Schulden aus überzogenen Aktienrückkäufen zu bezahlen.

[R-BgO]

Friday, 09 Apr 2010


Domain reported that Anglo American is in advanced talks to sell its zinc business, valued at more than USD 1 billion, as part of a forced restructuring after a failed acquisition attempt late last year by rival Swiss miner Xstrata.

According to media reports, Anglo American is closer to selling its entire zinc businesses to one buyer and a few rival mining companies are in the process of bidding for it. The zinc assets being offloaded by Anglo American include its Skorpion mine in Namibia, Lisheen mine in Ireland and the Black Mountain mine and Gamsberg Project in South Africa in which Exxaro Resources holds 26% stake.

Some of the world's biggest zinc miners, like mining company Xstrata, world's largest commodities supplier and largest shareholder of Xstrata Glencore, owner of Europe's largest zinc mine Boliden of Sweden and even China Minmetals are likely to bid.

Among the interested bidders is also London listed Vedanta Resources' Indian subsidiary Hindustan Zinc Limited which holds 79.7% market share in India.

[R-BgO]

Anglo American should resume dividend this year

Daniel Rohr, CFA, 05/03/10 10:36

MORNINGSTAR VIEW: Anglo American's 2H was fuelled by price improvements but FY earnings still lagged 2008 significantly

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As was the case for base metal miners that had previously reported, Anglo American's second-half results benefited from the significant copper and nickel price improvement in the period (+55% and +51%, respectively versus first-half averages). But full-year results, not surprisingly, lagged 2008's by a significant margin: group operating profit dropped 51% from $10.1 billion to $5.0 billion. Weaker full-year pricing accounts for most of the drop (volumes contributed favourably), with platinum group metals primarily to blame.

While Anglo generated respectable free cash flow for the year and ended 2009 with $3.3 billion in cash (a larger year-end balance than 2007), the board did not elect to declare a dividend. By contrast, peers Xstrata and Freeport, for example, each announced a resumption of dividend payments after an intermittent curtailment undertaken to preserve liquidity. Notably, however, unlike Xstrata and Freeport, Anglo wasn't forced to issue shares in an effort to shore up its balance sheet during the dark days of early 2009. Looking ahead, judging by management's comments in the earnings call, Anglo looks likely to resume dividend payments in 2010, assuming we don't see a double-dip recession accompanied by plummeting base metals prices.

[jerobeam]

bald gibt's nicht mehr viel zu verkaufen ... und Anglo steht vollkommen nackt da. Danke Cynthia, danke Tony, ihr habt das Unternehmen sauber gegen die Wand gefahren.

Anglo American Plc plans to sell five coal projects with 1.2 billion tonnes of undeveloped coal resources in Queensland and New South Wales states.

The newspaper, without saying where it got the information, reported that the sales, which could fetch more than AUD 500 million, are expected to be completed in the next eight to 10 weeks.

Tarmac wurde übrigens 2002 für $2 Mrd übernommen ... jetzt soll der Verkauf gerade einmal $400m bringen. 80% minus in 8 Jahren - saubere Leistung

[jerobeam]

Der Schlussverkauf geht weiter

JOHANNESBURG (Dow Jones)--Der Rohstoffkonzern Anglo American hat die europäischen Aktivitäten seiner Tochter Tarmac verkauft, die Materialen wie Asphalt oder Beton für den Straßenbau herstellt. Insgesamt werde die Transaktion dem Londoner Konzern rund 400 Mio USD einbringen, teilte die Anglo American plc am Dienstag mit.

Verkauft werde das Tarmac-Geschäft in zwei Teilen. Die Aktivitäten in Deutschland, Frankreich, in Tschechien und teilweise in Polen gingen an eine Tochter des französischen Baukonzerns Vinci. Das polnische Beton-Bereich werde von der Beteiligungsgesellschaft Innova übernommen.

Wenn ich mich recht entsinne hatte man vor ein paar Jahren noch weit über 1Mrd für Tarmac in den Raum gestellt ... aber Aktienrückkäufe waren natürlich VIEL wichtiger.

[jerobeam]

neues von den Vollpfosten

CAPE TOWN (miningweekly.com) – Diversified miner Anglo American would be disposing of more entities in 2010 as the company continued to focus on attractive commodities, CEO Cynthia Carroll said on Tuesday.

Carroll told the Mining Indaba conference that Anglo had realised $2,4-billion last year from the disposal of assets that were not seen as being part of the company's long-term future.

Gute Assets für $2.4 Milliarden zu Schleuderpreisen verkaufen, und vorher Für X-Milliarden Aktien zu Höchstpreisen zurückkaufen. Buy high, sell low. Grandiose Management-Leistung. Ich hoffe dafür gibt es ordentlich Bonus.

[jerobeam]

Ms Carroll can not be accused of sitting on her hands

Invest in companies that can be run by idiots - because sooner or later, one will
Verkauf von Anglogold wohl eine der dümmsten Entscheidungen der Welt im letzten Jahr. Obwohl die geplante Aufgabe der zukunftsträchtigen Düngemittelsparte wohl stark damit konkurrieren dürfte. Vom Aktienrückkaufprogramm ganz zu schweigen - aber das haben andere Idioten vor ihr verbrochen.

[R-BgO]

Saturday, 02 Jan 2010


Proactive Investors reported that Ms Cynthia Carroll CEO of Anglo American is getting the house in order with the implementation of a program that will see the miner shed a quarter of its managers whilst decentralizing its business and selling assets.

The efficiency measures are expected to result in cost savings anticipated at USD 120 million per annum adding further weight to her argument that a union with Xstrata is not needed.

Businesses facing the axe include steel focused Scaw Metals, fertilizer producer Copebras, ferroniobium producer Catalao and the group's portfolio of zinc assets. The disposals are significant and together with buildings supplier Tarmac, which was identified as a non core asset some time ago and is now back on the market, the unwanted assets accounted for approximately 11% of group earnings in 2008.

Ms Carroll can not be accused of sitting on her hands and recently announced that the company expects to save USD 2 billion through better procurement and mine efficiency improvements by the end of 2011 a lofty target, but achievable nonetheless. Focusing on the present and having posted savings of USD 450 million in the H1 of the year, management has zoned in on achieving USD 1 billion in savings for the year as a whole.

Anglo’s revolving boardroom door has the potential to be a distraction however the group’s third quarter production report has put paid to this idea. Copper output rose by 13% YoY, while iron ore output climbed 16% and refined platinum production rose 16%. In addition, rough diamond production was up 43% QoQ.

Whilst the sparkle of the precious metals grabs the commodities headlines, copper is leading the way and Anglo’s copper operations at Collahuasi and Los Bronces provide plenty cause for optimism. Collahuasi saw improved grades and recoveries, whilst production at Los Bronces was improved due to increased throughput. And what’s more, the Los Bronces copper expansion project is nearing completion and will provide a significant springboard for earnings.

Meanwhile the group’s output expansion in the platinum could not be better timed. Given its prominent role in the automotive industry as well as world of jewellery, the precious metal is almost a direct play on the Chinese economy and with Anglo on track to meet full year target of 2.4 million ounces whilst improving productivity by 4%, platinum’s earnings contribution is set to increase.

[jerobeam]

Das Ausfleddern geht weiter ...
http://www.guardian.co.uk/business/2009/oct/22/anglo-america…

Jetzt sollen also auch noch weitere Diversifizierungen aufgegeben werden:

* Tarmac (Baustoffe)
* Scaw Metals (Stahl)
* Copebras (Phosphatmine)
* und weitere

Was für Trottel. Willkommen in der Welt der extrem zyklischen Werte.
Ich wünschte ich hätte BHP gekauft. Die bleiben wenigstens breit aufgestellt.

[jerobeam]

Anglo American wird immer uninteressanter. Die ehemals schöne Diversifizierung, die die Stabilität des Konzerns garantierte, schwindet dahin.

Gold ist Weg (AngloGold verkauft)
Papier ist Weg (Mondi Spin-Off)
Landwirtschaft ist Weg (Tongaat verkauft)
Stahl ist Weg (Highveld Steel verkauft)
Baustoffe wohl auch bald Weg (Tarmac)
... usw.

Was bleibt ist das hochzyklische Erzgeschäft, und damit extrem volatile Ergebnisse. Überteuerte Aktienrückkäufe und zu hohe Ausschüttungen haben einen hässlichen Schuldenberg geschaffen.

Trahar und Caroll haben leider eine vollkommen verfehlte, von Investmentbankern diktierte Strategie verfolgt - und auf der ganzen Linie versagt. Der Alte Oppenheimer würde sich im Grabe herumdrehen, würde er sehen wie sein Erbe vor die Hunde geht.

Am Ende wird wahrscheinlich wirklich eine Übernahme stehen, die das bereits durch die vielen Verkäufe eingeläutete Ende besiegelt.