ANGLO growth story continues with Nett Profits nearly doubling last years. Anglo have invested $20b in South Africa since 1999, and when the CEO was asked about rumours of Mine Nationalism in South Africa, she responded "We go where the resources are".
Sounds like NKWE Platinum will be sandwiched between two titans. Xstrata and Anglo. However, if history is anything to go by. A takeover or JV with Xstrata would be more favourable and aggressive (an hey! Xstrata still publicise their option on Xstrata Alloys website on this month!). Oh, and the mention of DRA by Bailow? Well, an interesting point is that Elandsfontein engaged DRA to developed their Platinum mine, concentrators etc in 2006 prior to Xstrata USD1b takeover in 2007.
Note that the DRA managed to bring Eland's mine into production in less than two years, site construction in late 2006, followed by open pit production in 2007 and underground in 2008. Sounds promising, Eland was able to obtain debt financing to bring their mines online. However, they were not independent long. Consolidation in the PGM industry. Xstrata gobbled them up. --------------------------------------------------------
Anglo American Eyes $70 Billion Growth Pipeline By Alex MacDonald
Published April 21, 2011| Dow Jones Newswires
LONDON -(Dow Jones)- Anglo American PLC (AAL.LN) currently has in the pipeline about $70 billion worth of projects that it plans to use to drive strong organic growth in the years ahead, senior company executives said Thursday.
Cynthia Carroll, the company's chief executive, said at the company's annual general meeting here that the growth ahead is strong with "a new mining operation [starting] every six to nine months for the next several years."
The company plans to increase volume output 35% by 2013 and increase 50% by 2015. It is looking to double output by 2020 based on a growth pipeline of about $70 billion of approved and unapproved projects, senior company executives said during the meeting.
The company is currently developing $17 billion in projects and is looking to approve another $16 billion in the near term. A remaining $50 billion worth of projects are still waiting to be approved.
Carroll said the outlook for commodities over the medium term- to long-term remains strong and in tact, despite current challenges in the global economy stemming from austerity packages that are being adopted in many countries, as well as higher oil prices.
She noted that the global economy continues to grow, partly fueled by the process of urbanization in India, China and other emerging markets.
"Mining is the lifeblood of global economic growth," she said.
