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...Anglo American, which owns 79.2 per cent of Amplats, has singled out platinum group metals (PGMs) as one of the two commodities in its portfolio, along with diamonds, that has been struggling, contributing...
...Anglo American has written down $2.4bn in its diamond and nickel businesses as the gemstone market takes longer to recover and the battery metal suffers from a glut of Indonesian supply....
...Anglo American, which owns 79.2 per cent of Amplats, has singled out platinum group metals as one of two struggling commodities in its portfolio, contributing to a sharp fall in its shares in the past year...
...In raising concerns over the deal Biden did not refer to national security, speaking only of the need to maintain “strong American steel companies powered by American steel workers”....
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...BHP, Rio Tinto, Glencore, Anglo American and Vale have an average price to forward earnings ratio of 8.5 times versus 18.5 for the S&P 500, according to S&P Capital IQ and Refinitiv....
...In addition, De Beers, the group’s diamond producer, and Anglo American Platinum have suffered because of a sharp plunge in prices, caused by the steep rise in interest rates and tepid demand in China....
...The Vancouver-based group said on Thursday that the loan, which is the largest ever extended by the US Department of Energy to a mining group, will help it develop the Thacker Pass project that will generate...
...The Japanese group reacted to the intervention by arguing that its deal would increase competitiveness in industries that need American steel and would strengthen US supply chains and economic defences against...
...Anglo American has unveiled plans to slash metal production to cut costs and combat the slide in its share price that has been far deeper than rival mining companies....
...The venerable American business was once the backbone of its country’s industrial base. In recent decades it has suffered from the onslaught of cheap foreign producers, first from Japan, then China....
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...Lower prices and the disarray in South Africa have affected its platinum group metals business particularly badly, leading Anglo American to say that it would focus on more profitable production using its...
...“Something has to give somewhere along the line,” said Duncan Wanblad, chief executive of Anglo American....
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