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Stock Market & Financial Investment News

News Breaks
January 29, 2013
10:30 EDTAAUKYAnglo American confirms Mina-Rio capex; records $4B impairment
Anglo American has completed the detailed cost and schedule review of its Minas-Rio iron ore project in Brazil announced in November. Following its Novembers guidance and the completion of the review, capital expenditure for the Minas-Rio project is projected to increase to $8.8B, if a centrally held risk contingency of $600M is utilised in full. On the basis of the revised capital expenditure requirements and its assessment of the full potential of phase one of the project (excluding at this stage the potential for future expansions to 90 mtpa), Anglo American will record an impairment charge of $4B at 31 December 2012 on a post-tax basis. Despite the challenges the Minas-Rio project has faced, Anglo American is targeting first ore on ship, FOOS, by the end of 2014. Reference Link
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July 23, 2014
18:53 EDTAAUKYBHP Billiton, Anglo seek buyers for manganese assets, WSJ reports
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July 20, 2014
12:56 EDTAAUKYAnglo American plans to sell South African platinum mines, Sunday Times says
Anglo American plans to sell off its legacy South African platinum mines and according to the Sunday Times, will make the announcement tomorrow in a move that will reduce headcount by 20,000. Reference Link

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