Anglo American PLC (NASDAQ:AAUK)
Industry: Basic Materials
Anglo American plc, with its subsidiaries, joint ventures and associates, is engaged in the mining and natural resource sectors. The Company owns a range of assets covering gold, platinum, diamonds, coal, ferrous and base metals, industrial minerals and paper and packaging. Its geographic segments include Americas, South Africa, Europe and Rest of the world, which contributed 37%, 36%, 10% and 17%, respectively, of the Company's earnings, during the year ended December 31, 2005. Gold Anglo American's gold interests are represented predominantly by its 51% interest in independently managed subsidiary, AngloGold Ashanti, with operations in Africa, North and South America and Australia. AngloGold Ashanti's gold production from ongoing operations rose by 6% to 6.17 million ounces in 2005. The key gold projects in pipeline include Mponeng (south Africa), Cuiaba (Brazil) and Boddington (Australia). Platinum Anglo American's managed subsidiary, Anglo Platinum, mines, processes, refines and markets the entire range of platinum group metals, such as platinum, palladium, rhodium, ruthenium, iridium and osmium. Anglo Platinum wholly owns six mines, two smelters, a base metals refinery and a precious metals refinery located in the Limpopo and Northwest provinces of South Africa. Each of Anglo Platinum's mines operates its own concentrator facilities, with smelting and refining of the output being undertaken at the Rustenburg Platinum Mines metallurgical facilities and at the new Polokwane smelter. The key platinum projects in pipeline include Mototolo Joint Venture (South Africa), Marikana Joint Venture (South Africa) and Potgietersrust (South Africa). During 2005, Anglo Platinum reached an agreement with Aquarius Platinum to mine on their contiguous Rustenburg and Marikana properties. The Mototolo joint venture was formed with Xstrata Alloys. Anglo Platinum is also in the final stages of approving the Potgietersrust expansion. Diamonds Anglo American's diamond interests are represented by its 45% shareholding in DB Investments (DBI). The other shareholders are Central Holdings Limited, an Oppenheimer family holding company (40%) and the Botswana Government (15%). De Beers Consolidated Mines Limited (DBCM) is the ultimate parent company in South Africa. The major diamond assets of DBCM consists of the South African diamond mines owned and operated by De Beers and interests in the South African elements of the Diamond Trading Company (DTC), De Beers' marketing arm. The key diamond projects in pipeline include Snap Lake (Canada), Victor (Canada), Voorspoed (South Africa) and South African Sea Areas (South Africa). During 2005, De Beers Group production, including joint ventures in Botswana and Namibia, increased by 4% to 49 million carats. The South African operations lifted output by 10% to 15.2 million carats. Debswana raised production by 2% to 31.9 million carats, while Namdeb produced 1.86 million carats. During 2005, De Beers approved the Snap Lake underground project in Canada's Northwest Territories, which will be the Company's first mine outside Africa, and gave the go-ahead for a second Canadian project, the Victor project, in Ontario. In 2005, De Beers and Ponahalo Investment Holdings signed a memorandum of understanding relating to the proposed sale of a 26% equity interest in De Beers Consolidated Mines Limited to Ponahalo, a South African black economic empowerment company. Coal The Company's coal interests are held through wholly owned, Anglo Coal, a private-sector coal producer and exporter. Anglo Coal is an international coal producer with mining operations in South Africa, Colombia, Venezuela and Australia. It produces thermal, pulverized coal injection (PCI) and metallurgical and coking coals for international customers in the Med-Atlantic and Indo-Pacific markets, as well as local customers in South Africa and Australia. In 2005, the coal production amounted to 56. 9 million tons. The key coal projects in pipeline include Dawson (Australia), Lake Lindsay (Australia) and Mafube (South Afr
As Of: 10/07 00:00 ET
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