DOCSLIB.ORG

Anglo American Fact Book 2005/6 Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Anglo American Fact Book 2005/6 Contents Anglo American Fact Book 2005/6 Contents Anglo American plc 1 Worldwide operations/Our businesses 2 Structure 4 Strategy/Sustainable development 5 Company ownership levels 6 Through history 8 Financial highlights 9 Financial data 10 Commodity and exchange rate history 11 Conversion tables 12 Anglo Platinum 13 Anglo Base Metals 47 Business overview 14 Business/Industry overview 48 Industry overview 15 Uses of base metals 49 Platinum group metals market 16 Strategy/Technological innovation 50 Around the world 17 Around the world 51 Through history 18 Through history 52 Financial highlights 19 Financial highlights 53 Financial data 20 Financial data 54 Production data 21 Production data 55 Reserves and resources data 24 Reserves and resources data 56 Project pipeline 27 Project pipeline 63 Market information 29 Market information 65 Operations diagram 30 Operations diagram 66 Diamonds 31 Anglo Coal 67 Business/Industry overview 32 Industry overview 68 Supplier of choice/The four Cs 33 Markets 69 Exploration 34 Strategy 70 Around the world 35 Around the world 71 Through history 36 Through history 72 Financial highlights 37 Financial highlights 73 Financial data 38 Financial data 74 Diamonds recovered 39 Production data 75 Diamonds grade 40 Reserves and resources data 76 Project pipeline 41 Project pipeline 80 Market information 44 Market information 81 Operations diagram 45 Operations diagram 82 Anglo Ferrous Metals and Industries 85 AngloGold Ashanti 117 Leading asset base/Products and applications 86 Business overview/Industry overview 118 Business overview 87 Gold production process/Exploration 119 Strategy 88 Strategy 120 Around the world 89 Around the world 121 Through history 90 Through history 122 Financial highlights 91 Financial highlights 123 Financial data 92 Financial data 124 Production data 93 Production data 125 Reserves and resources data 94 Reserves and resources data 127 Project pipeline 102 Project pipeline 129 Market information 103 Market information 131 Operations diagram 104 Operations diagram 132 Anglo Industrial Minerals 105 Anglo Paper and Packaging 133 Business overview/Products 106 Industry overview 134 Market structure 107 Production processes 135 Strategy 108 Through history 136 Around the world 109 Financial highlights 137 Through history 110 Financial data 138 Financial highlights 111 Production data 139 Financial data 112 Operations diagram 140 Production and reserve data 113 Market information 114 Operations diagram 116 Anglo American plc: creating long term shareholder value Worldwide operations ● Platinum ● Gold ● Diamonds ● Base Metals ● Ferrous Metals ● Coal ● Industrial Minerals ● Paper and Packaging ■ Countries with current exploration projects Our businesses Platinum Diamonds Base Metals Business profile Business profile Business profile ● The world’s largest primary ● De Beers accounts for about ● Comprises primarily copper, nickel, producer of platinum, accounting 45% by value of global rough zinc and mineral sands operations. for 37% of the world’s newly diamond production. ● Operates in South America, mined platinum output. ● The world’s largest supplier and southern Africa and Ireland. Products and uses marketer of gem diamonds. Products and uses ● Primarily used in autocatalysts Products and uses ● Copper is used mainly in wire and and jewellery. ● The majority of cuttable cable, as well as in brass, tubing ● Also used in chemical, electrical, diamonds are used in jewellery. and pipes. glass and petroleum industries ● Some natural stones are used ● Zinc is chiefly used for galvanising. and medical applications. for industrial purposes such as ● Nickel is mostly used in the cutting and other applications. production of stainless steel. Coal Ferrous Metals Industrial Minerals Business profile Business profile Business profile ● Anglo Coal is one of the world’s ● Operations are mainly in ● Tarmac is the No.1 UK producer largest private sector coal southern Africa, South America of aggregates and asphalt and producers and exporters. and Australia. a leading producer of ready- ● Its operations are in South Africa, ● Anglo American holds the major mixed concrete. Australia, Colombia and Venezuela. interest in Kumba, a significant ● Its operations are primarily in the Products and uses iron ore producer. UK, continental Europe and Brazil. ● About 40% of all electricity Products and uses Products and uses generated globally is powered ● Iron ore is the basic raw material ● Tarmac is involved in the by coal. used in steel production. production of crushed rock, sand, ● 70% of the world’s steel industry ● Manganese and vanadium are all gravel, concrete and mortar, lime, uses coal and it is an important important in steelmaking. cement and concrete products. fuel for other industries. ● Copebrás is a Brazilian producer of phosphate fertilisers. 2 | Anglo American plc Fact Book 2005/6 Gold Paper and Packaging Exploration Business profile Business profile As one of the major diversified mining groups, Anglo ● AngloGold Ashanti is one of the ● Mondi is an integrated paper and American’s exploration activities cover many parts of the world’s largest gold producers. packaging group. globe. In its constant search for minerals, Anglo American is ● It has 21 operations in ● It has operations and interests in currently prospecting in more than 30 countries. In addition to 10 countries. Europe, Russia, South Africa, its focus on areas surrounding its existing mining operations, Products and uses Asia and North America. Anglo American is now looking at relatively unexplored new ● Mainly used for fabrication and Products and uses frontiers, including in the Arctic region through an arc bullion investment. ● Mondi manufactures office stretching from Alaska to Kamchatka in Russia’s far east. ● Fabricated gold used in jewellery, papers, packaging papers, electronics, dentistry, decorations, board, converted packaging During 2005, $150 million was spent on exploration – $50 medals and coins. and newsprint. million on base metals, $21 million on platinum, $13 million on coal, $21 million on ferrous metals, while AngloGold Ashanti’s exploration expenditure, taking in 18 countries, totalled $45 million. Anglo American plc Fact Book 2005/6 | 3 Structure Anglo American is a global leader in mining focused on adding value for shareholders, customers, employees and the communities in which it operates. The Group owns a diversified range of high quality businesses covering platinum, gold, diamonds, coal, base and ferrous metals, industrial minerals, and paper and packaging, underpinned by considerable financial strength and technical expertise. Above: Kumba’s 75 year old Thabazimbi mine in South Africa’s Limpopo province produces around 2.7 million tonnes of iron ore annually. Anglo American plc Platinum Diamonds Base Metals Coal Ferrous Industrial Gold Paper and (74.8% of (45% of (100%) (100%) Metals Minerals (41.8% of Packaging Anglo Platinum) De Beers) (100%) (100%) AngloGold (100%) Ashanti) Underlying earnings by geography % 36 37 17 10 Europe South Africa Americas Rest of the world 4 | Anglo American plc Fact Book 2005/6 Strategy In October 2005 Anglo American The decision to reduce the Group’s business in the UK, Poland and, announced the outcome of its shareholding in AngloGold Ashanti in early 2006, in Romania. strategic review, which relates to the higher, relative represented a further chapter valuations investors attribute to Anglo American is also progressing in its ongoing strategic pure-play gold mining stocks, rather well with the remainder of its development over the past six than as part of the make-up of a industries portfolio. Boart Longyear years. Anglo American’s aim is diversified mining group. Anglo and Samancor Chrome were sold to further focus the Group on its American is considering a number in mid-2005 and the disposal of core mining portfolio and, in the of options to effect the reduction. its investment in Highveld Steel is process, simplify its structure progressing. In addition, Tongaat- and enhance returns and In the case of Tarmac, the Hulett has recently announced that shareholder value. In early 2006, considerably strengthened it intends to unbundle and list its Anglo American provided a management team is in the process aluminium business, Hulett further update on its strategy. of undertaking a review of its Aluminium, and simultaneously business with the aim of improving introduce black economic Regarding Anglo American’s returns on capital invested by turning empowerment equity participation investment in Mondi, one of the around, restructuring or divesting in both Tongaat-Hulett and Hulett largest and most successful paper underperforming parts of the Aluminium. and packaging groups in Europe, portfolio while continuing to grow it is clear there are only limited its core businesses. Since the year The Group has approved significant synergies with Anglo American’s end the first phase of the review platinum expansion projects and mining portfolio. The Group has has been completed, with negotiations for a further platinum therefore decided to list Mondi on the businesses in Germany and Hong black empowerment transaction London Stock Exchange in 2006/7. Kong identified for disposal as well have commenced. I In the meantime, Anglo American as the concrete paving business in will continue to support Mondi’s the UK. Tarmac has also made three growth opportunities as they arise. acquisitions in its aggregates Sustainable development In the face of climate change, reports being generated
Load more

Recommended publications
  • Arend J Hoogervorst1 B.Sc.(Hons), Mphil., Pr.Sci
    Audits & Training Eagle Environmental Arend J Hoogervorst1 B.Sc.(Hons), MPhil., Pr.Sci. Nat., MIEnvSci., C.Env., MIWM Environmental Audits Undertaken, Lectures given, and Training Courses Presented2 A) AUDITS UNDERTAKEN (1991 – Present) (Summary statistics at end of section.) Key ECA - Environmental Compliance Audit EMA - Environmental Management Audit EDDA -Environmental Due Diligence Audit EA- External or Supplier Audit or Verification Audit HSEC – Health, Safety, Environment & Community Audit (SHE) – denotes safety and occupational health issues also dealt with * denotes AJH was lead environmental auditor # denotes AJH was contracted specialist local environmental auditor for overseas environmental consultancy, auditing firm or client + denotes work undertaken as an ICMI-accredited Lead Auditor (Cyanide Code) No of days shown indicates number of actual days on site for audit. [number] denotes number of days involved in audit preparation and report write up. 1991 *2 day [4] ECA - AECI Chlor-Alkali Plastics, Umbogintwini, KwaZulu-Natal, South Africa. November 1991. *2 day [4] ECA - AECI Chlor-Alkali Plastics- Environmental Services, Umbogintwini, KwaZulu-Natal, South Africa. November 1991. *2 Day [4] ECA - Soda Ash Botswana, Sua Pan, Botswana. November 1991. 1992 *2 Day [4] EA - Waste-tech Margolis, hazardous landfill site, Gauteng, South Africa. February 1992. *2 Day [4] EA - Thor Chemicals Mercury Reprocessing Plant, Cato Ridge, KwaZulu-Natal, South Africa. March 1992. 2 Day [4] EMA - AECI Explosives Plant, Modderfontein, Gauteng, South Africa. March 1992. *2 Day [4] EMA - Anikem Water Treatment Chemicals, Umbogintwini, KwaZulu-Natal, South Africa. March 1992. *2 Day [4] EMA - AECI Chlor-Alkali Plastics Operations Services Group, Midland Factory, Sasolburg. March 1992. *2 Day [4] EMA - SA Tioxide factory, Umbogintwini, KwaZulu-Natal, South Africa.
    [Show full text]
  • Helmsec's Annual Mining Forum 2011
    THE MANDARIN ORIENTAL HELMSEC’S 5 CONNAUGHT ROAD, CENTRAL ANNUAL MINING HONG KONG FORUM 2011 THURSDAY, 24TH MARCH 2011 SYDNEY | MELBOURNE | HONG KONG | SINGAPORE TABLE OF CONTENT PG FORUM SCHEDULE 3 INDIVIDUAL COMPANY INFORMATION SHEETS 8 ALPHABETIC BY COMPANY HELMSEC STAFF AT THE CONFERENCE 50 WHO WE ARE – THE PAN-ASIAN MINING INVESTMENT HOUSE 52 HELMSEC’S GLOBAL NETWORK & RECENT TRANSACTION 53 DIRECTORY & CONTACTS 54 This Helmsec Global Markets Limited and Helmsec Global Capital Limited (Individually and collectively “Helmsec”) publication is intended for the use of licensed Investment professionals. Past performance is not a reliable indicator of future performance. Any express or implied recommendations or advice presented in this document is limited to “General Advice” and based solely on consideration of the investment and/or trading merits of the financial product(s) alone, without taking into account the investment objectives, financial situation and particular needs of any particular person. Before making an investment decision based on the recommendations of advice, the reader must consider whether it is personally appropriate in light of his or her financial circumstances or should seek further advice in its appropriateness. Disclaimer: This document is only intended to provide background information and does not purport to be complete and/or to contain all the information that an investor may consider when making an investment decision. This document is not an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any securities. This note does not form the basis of any contract or commitment. Helmsec and its respective affiliates, agents, officers or employees make no recommendation as to whether you should participate in any securities in any Company referred to in this document (Company) nor do they make any recommendation or warranty to you concerning any Company an/or the accuracy, reliability or completeness of the information provided herein and/or the performance of any Company.
    [Show full text]
  • HESTA Share Voting Record Australian Equities Managers 1 Jan-30 Jun 2016
    HESTA Share Voting Record - Australian Equities Managers 1 January to 30 June 2016 Resolutio Management/ Company Name Country Market Identifier Meeting Date Meeting Type Details of Resolution HESTA Vote n No. Shareholder Proposal ADELAIDE BRIGHTON LTD, ADELAIDE Australia AU000000ABC7 25-May-2016 Annual General Meeting 2 RE-ELECTION OF MR GF PETTIGREW Management For ADELAIDE BRIGHTON LTD, ADELAIDE Australia AU000000ABC7 25-May-2016 Annual General Meeting 3 ISSUE OF AWARDS TO THE MANAGING DIRECTOR Management For ADELAIDE BRIGHTON LTD, ADELAIDE Australia AU000000ABC7 25-May-2016 Annual General Meeting 4 ADOPTION OF REMUNERATION REPORT Management For AINSWORTH GAME TECHNOLOGY LTD, NEWINGTON Australia AU000000AGI3 27-Jun-2016 Ordinary General Meeting 1 APPROVAL FOR ACQUISITION OF SHARES BY NOVOMATIC AG Management For (NOVOMATIC) AIRXPANDERS, INC United States AU000000AXP3 17-May-2016 Annual General Meeting 1.A ELECTION OF MR. GREGORY LICHTWARDT AS A DIRECTOR OF THE Management For COMPANY AIRXPANDERS, INC United States AU000000AXP3 17-May-2016 Annual General Meeting 1.B ELECTION OF MS. ZITA PEACH AS A DIRECTOR OF THE COMPANY Management For AIRXPANDERS, INC United States AU000000AXP3 17-May-2016 Annual General Meeting 2 APPROVAL OF 10% PLACEMENT FACILITY Management Against AIRXPANDERS, INC United States AU000000AXP3 17-May-2016 Annual General Meeting 3 GRANT OF OPTIONS TO MR SCOTT DODSON Management Against AIRXPANDERS, INC United States AU000000AXP3 17-May-2016 Annual General Meeting 4.A GRANT OF OPTIONS TO MR BARRY CHESKIN Management Against
    [Show full text]
  • Appendix A: Proof of Eap Qualifications
    SLR Consulting (Africa) (Pty) Ltd Page A APPENDIX A: PROOF OF EAP QUALIFICATIONS SECTION 24G ENVIRONMENTAL ASSESSMENT REPORT FOR SLR Ref. 710.23031.00002 THE TSHIPI BORWA MINE August 2017 Report No.1 SLR Consulting (Africa) (Pty) Ltd Page B APPENDIX B: CURRICULUM VITAE OF EAP SECTION 24G ENVIRONMENTAL ASSESSMENT REPORT FOR SLR Ref. 710.23031.00002 THE TSHIPI BORWA MINE August 2017 Report No.1 Alessandra (Alex) Pheiffer Environmental Assessment Practitioner Curriculum Vitae Qualifications BSc 1998 Biological Sciences BSc (Hons) 1999 Zoology MSc 2004 Environmental Management Professional affiliations and registrations Registered with the South African Council for Natural Scientific Professions as a Professional Natural Scientist (PrSciNat) in Environmental Science (Reg. No. 400183/05) Registered with the Environmental Assessment Professionals of Namibia (EAPAN) as a Lead Practitioner (Membership No. 121) Member of the International Association for Impact Assessments (IAIA), South African Affiliate Summary of Key Areas of Expertise Management and facilitation of permitting and licensing processes Management of stakeholder engagement processes Overall Project Management Due Diligence, Reviews Summary of Experience and Capability Alex is a Director (since March 2013) and Operations Manager: Environmental Management, Planning and Approvals (EMPA) with SLR Africa and is responsible for co-ordinating SLR’s environmental management team. Alex has 16 years’ experience in the field of Environmental Management. Alex has managed a wide range of permitting and licensing projects including environmental assessments, water use license applications and waste management license applications, mainly in the exploration, mining and industrial sectors. These included project management and co-ordination; specialist and engineering team management; co-ordination, facilitation and undertaking of stakeholder engagement processes including for contentious projects, and environmental assessment.
    [Show full text]
  • Year End 2020
    AngloGold Ashanti Limited (Incorporated in the Republic of South Africa) Reg. No. 1944/017354/06 ISIN: ZAE000043485 – JSE share code: ANG CUSIP: 035128206 – NYSE share code: AU (“AngloGold Ashanti” or “AGA” or the “Company”) Report for the six months and year ended 31 December 2020 Johannesburg, 22 February 2021 - AngloGold Ashanti is pleased to provide its financial and operational update for the six months and year ended 31 December 2020. • Added Ore Reserve of 6.1Moz on a gross basis, 2.6Moz on a net basis, for a net increase of 10% year-on-year - reserve life ∧ increased to about 11 years • Free cash flow increased 485% year-on-year to $743m in 2020 – excluding asset sale proceeds – from $127m in 2019 • Free cash flow before growth capital up 124% year-on-year to $1,003m in 2020, from $448m in 2019 • Net cash inflow from operating activities increased 58% to $1,654m in 2020, from $1,047m in 2019 • Achieved 2020 full year guidance: Production of 3.047Moz in 2020, which includes COVID-19 impacts estimated at 140,000oz • All-in sustaining costs (AISC) margin from continuing operations rose to 40% in 2020, from 28% in 2019 • Profit from continuing operations increased 160% year-on-year to $946m in 2020, from $364m in 2019 • Adjusted EBITDA up 50% year-on-year to $2,593m in 2020, from $1,723m in 2019; highest since 2012 • Dividend increased more than fivefold to 48 US cents per share in 2020, from 9 US cents per share in 2019 • Adjusted net debt from continuing operations down by 62% year-on-year to $597m in 2020, from $1,581m in 2019;
    [Show full text]
  • Anglogold Ashanti Holdings Plc Anglogold Ashanti Limited
    Use these links to rapidly review the document TABLE OF CONTENTS Prospectus Supplement TABLE OF CONTENTS TABLE OF CONTENTS 3 Table of Contents Filed pursuant to Rule 424(b)(5) Registration Nos. 333-182712 and 333-182712-02 CALCULATION OF REGISTRATION FEE Amount of Registration Title of Each Class of Aggregate Securities to be Registered Offering Price Fee (1) 5.125% Notes due 2022 of AngloGold Ashanti Holdings plc $750,000,000 $85,950 Guarantee of AngloGold Ashanti Limited in connection with the 5.125% Notes due 2022 (2) — — (1) Calculated in accordance with Rule 457(r) under the Securities Act of 1933. (2) Pursuant to Rule 457(n) under the Securities Act of 1933, no separate fee is payable with respect to the guarantee of AngloGold Ashanti Limited in connection with the guaranteed debt securities. Prospectus Supplement to Prospectus dated July 17, 2012 GRAPHIC AngloGold Ashanti Holdings plc $750,000,000 5.125% notes due 2022 Fully and Unconditionally Guaranteed by AngloGold Ashanti Limited The 5.125% notes due 2022, or the "notes", will bear interest at a rate of 5.125% per year. AngloGold Ashanti Holdings plc, or "Holdings", will pay interest on the notes each February 1 and August 1, commencing on February 1, 2013. Unless Holdings redeems the notes earlier, the notes will mature on August 1, 2022. The notes will rank equally with Holdings' senior, unsecured debt obligations and the guarantee will rank equally with all other senior, unsecured debt obligations of AngloGold Ashanti Limited. Holdings may redeem some or all of the notes at any time and from time to time at the redemption price determined in the manner described in this prospectus supplement.
    [Show full text]
  • Mineral Commodity Summaries 2000
    U.S. Department of the Interior U.S. Geological Survey MINERAL COMMODITY SUMMARIES 2000 Abrasives Diatomite Magnesium Selenium Aluminum Feldspar Manganese Silicon Antimony Fluorspar Mercury Silver Arsenic Gallium Mica Soda Ash Asbestos Garnet Molybdenum Sodium Sulfate Barite Gemstones Nickel Stone Bauxite Germanium Nitrogen Strontium Beryllium Gold Peat Sulfur Bismuth Graphite Perlite Talc Boron Gypsum Phosphate Rock Tantalum Bromine Hafnium Platinum Tellurium Cadmium Helium Potash Thallium Cement Indium Pumice Thorium Cesium Iodine Quartz Crystal Tin Chromium Iron Ore Rare Earths Titanium Clays Iron and Steel Rhenium Tungsten Cobalt Kyanite Rubidium Vanadium Columbium Lead Salt Vermiculite Copper Lime Sand and Gravel Yttrium Diamond Lithium Scandium Zinc Zirconium CONTENTS Page Page General: The Role of Nonfuel Minerals in the U.S. Economy ... 3 Appendix A—Units of Measure ................ 194 1999 U.S. Net Import Reliance for Selected Nonfuel Appendix B—Terms Used for Materials in the National Mineral Materials ........................... 4 Defense Stockpile ........................ 194 Significant Events, Trends, and Issues ............ 5 Appendix C—Resource/Reserve Definitions ...... 195 Commodities: Abrasives (Manufactured) .................... 20 Mercury .................................. 108 Aluminum ................................. 22 Mica (Natural), Scrap and Flake ............... 110 Antimony .................................. 24 Mica (Natural), Sheet ....................... 112 Arsenic ................................... 26
    [Show full text]
  • Adapting to Climate Change: a Guide for the Mining Industry
    Adapting to Climate Change: A Guide for the Mining Industry Julia Nelson, Manager, Advisory Services Ryan Schuchard, Manager, Climate and Energy This guide is part of a BSR This primer on climate change adaptation summarizes how companies in the industry series. For additional mining industry are reporting on climate change risks and opportunities, and highlights current and emerging best practices and guidance for E&U companies climate adaptation briefs, please visit www.bsr.org/adaptation. on how to develop a proactive approach to climate change adaptation. In this brief, mining refers to companies involved in the extraction of a broad range of metals and minerals, including precious metals, base metals, industrial Contents and Methodology minerals, coal, and uranium. This brief covers: Introduction Reporting on Risks and Opportunities: A synopsis Due to the wide geographic distribution of mining operations, climate change, including temperature and precipitation shifts as well as more frequent and based on reporting of climate severe extreme weather events, will have complex impacts on the sector. risk in 2009 by 41 mining Climactic conditions will affect the stability and effectiveness of infrastructure and companies to the Carbon equipment, environmental protection and site closure practices, and the Disclosure Project (CDP). availability of transportation routes. Climate change may also impact the stability and cost of water and energy supplies. Current Practices: An outline of actions related to climate Some examples: Warming temperatures will increase water scarcity in some change adaptation based on locations, inhibiting water-dependent operations, complicating site rehabilitation reporting from the CDP, and bringing companies into direct conflict with communities for water resources.
    [Show full text]
  • Geometry and Genesis of the Giant Obuasi Gold Deposit, Ghana
    Geometry and genesis of the giant Obuasi gold deposit, Ghana Denis Fougerouse, BSc, MSc This thesis is presented for the degree of Doctor of Philosophy. Centre for Exploration Targeting School of Earth and Environment The University of Western Australia July 2015 Supervisors: Dr Steven Micklethwaite Dr Stanislav Ulrich Dr John M Miller Professor T Campbell McCuaig ii "It never gets easier, you just go faster" Gregory James LeMond iv Abstract Abstract The supergiant Obuasi gold deposit is the largest deposit hosted in the Paleoproterozoic Birimian terranes of West Africa (62 Moz, cumulative past production and resources). The deposit is hosted in Kumasi Group sedimentary rocks composed of carbonaceous phyllites, slates, psammites, and volcaniclastic rocks intruded by different generations of felsic dykes and granites. In this study, the deformation history of the Obuasi district was re-evaluated and a three stage sequence defined based on observations from the regional to microscopic scale. The D1Ob stage is weakly recorded in the sedimentary rocks as a layer-parallel fabric. The D2Ob event is the main deformation stage and corresponds to a NW-SE shortening, involving tight to isoclinal folding, a pervasive subvertical S2Ob cleavage striking NE, as well as intense sub-horizontal stretching. Finally, a N-S shortening event (D3Ob) formed an ENE-striking, variably dipping S3Ob crenulation cleavage. Three ore bodies characteristic of the three main parallel mineralised trends were studied in details: the Anyankyerem in the Binsere trend; the Sibi deposit in the Gyabunsu trend, and the Obuasi deposit in the main trend. In the Obuasi deposit, two distinct styles of gold mineralisation occur; (1) gold-bearing sulphides, dominantly arsenopyrite, disseminated in metasedimentary rocks and (2) native gold hosted in quartz veins up to 25 m wide.
    [Show full text]
  • De Beers' New Strategy
    Personal copy; not for onward transmission De Beers’ new td. pany L strategy om In what is described by its chairman, Instead, it aims to be the ‘supplier of Nicky Oppenheimer, as “one of the choice’. However, it currently sells ron & C most significant developments the dia- about two thirds of the world’s annual mond industry has seen since the supply of rough diamonds, and the Georgian House 1930s”, De Beers this week unveiled a mines that it manages contribute about oeb A 63, Coleman Street new strategy whereby it will abandon 40% of world production. Hence it L London EC2R 5BB Tel :+44 (0)20 7628-1128 its long-held role as custodian of the remains very much the dominant play- REGULATED BY THE SFA diamond market, and focus instead on er, and intends to continue to sell dia- boosting demand. Since the depression monds to selected clients through its years of the 1930s when the price of dia- regular sales or ‘sights’ held roughly monds slumped, De Beers has stock- every five weeks. piled the world’s surplus diamonds as a There will be some marked changes means of controlling supply (and though in how the sights are conducted. prices). Under the new strategy, the At present, they are characterised by stockpile is not being eliminated but it their opacity. The 125 selected will be substantially reduced – to a sightholders or diamantaires – it is esti- working level of around six months’ mated that as many as 900 diaman- supply, equivalent to some US$2.5 bil- taires are on the ‘waiting list’ – have no lion.
    [Show full text]
  • Modelling the Optimum Interface Between Open Pit and Underground Mining for Gold Mines
    MODELLING THE OPTIMUM INTERFACE BETWEEN OPEN PIT AND UNDERGROUND MINING FOR GOLD MINES Seth Opoku A thesis submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, Johannesburg, in fulfilment of the requirements for the degree of Doctor of Philosophy. Johannesburg 2013 DECLARATION I declare that this thesis is my own unaided work. Where use was made of the work of others, it was duly acknowledged. It is being submitted for the Degree of Doctor of Philosophy in the University of the Witwatersrand, Johannesburg. It has not been submitted before in any form for any degree or examination at any other university. Signed …………………………….. (Seth Opoku) This……………….day of……………..………2013 i ABSTRACT The open pit to underground transition problem involves the decision of when, how and at what depth to transition from open pit (OP) to underground (UG). However, the current criteria guiding the process of the OP – UG transition are not well defined and documented as most mines rely on their project feasibility teams’ experiences. In addition, the methodologies used to address this problem have been based on deterministic approaches. The deterministic approaches cannot address the practicalities that mining companies face during decision-making, such as uncertainties in the geological models and optimisation parameters, thus rendering deterministic solutions inadequate. In order to address these shortcomings, this research reviewed the OP – UG transition problem from a stochastic or probabilistic perspective. To address the uncertainties in the geological models, simulated models were generated and used. In this study, transition indicators used for the OP - UG transition were Net Present Value (NPV), ratio of price to cost per ounce of gold, stripping ratio, processed ounces and average grade at the run of mine pad.
    [Show full text]
  • Noranda-Codelco Hunt Rio Algom
    Personal copy; not for onward transmission Reliability is the point Noranda-Codelco hunt Rio Algom Noranda has announced a C$1.5 billion cash on hand and credit facilities, and bid for Toronto-based Rio Algom and, Codelco from an external bridging loan if successful, will pass half of Rio of up to US$800 million. Both compa- Algom’s assets on to state-owned nies are seeking strategic benefits. For Corporacion Nacional del Cobre de the past few years, Noranda has been Chile (Codelco) at the same price. The divesting its assets to focus on mining, unsolicited bid by Noranda, which and has been looking to increase its already owns 8.9% of Rio Algom, is at exploration portfolio. Codelco, which is ht t p : / / w w w. e n s iv al - m o re t . c o m C$24.50/share – representing a 35% already the world’s largest copper pro- premium to Rio Algom’s share price of ducer, is seeking to extend its assets August 21, the day before the bid was outside Chile. Algom) and Phelps Dodge Corp. announced. Mr Kerr described the offer as “fair” (which has previously expressed an The offer is conditional on Noranda for shareholders of both Noranda and interest in Rio Algom and is keen to acquiring at least two-thirds of Rio Rio Algom. However, Rio Algom’s retain its status as the second largest Algom’s 60.6 million shares and the shares jumped by C$8 on the copper producer). company waiving its shareholder rights announcement to over C$26/share (a Not all analysts agree on the likeli- plan (which restricts the actions of hos- record high for the company), sig- hood of a higher bid.
    [Show full text]