London-listed companies and the earthquake in Chile
London-listed Anglo American, BHP Billiton and Xstrata are all involved in copper mining in Chile.
Chile copper mines, ports recover
All but one of Chile’s biggest copper mines hit by the massive weekend earthquake had restored operations by Monday, but persistent power supply problems threatened to restrict production rates.
See http://www.reuters.com/article/idUSTRE61R2WL20100301.
Anglo American’s earthquake-related copper losses less than 1,500t
Multinational [...]
How Sustainable Is ‘Socially Responsible’ Mining?
In the ten years since the mining industry has gone “responsible,” have things really improved for local communities–or has the industry’s PR just got better? (Mentions Vedanta, Monterrico Metals).
See http://www.thenation.com/doc/20100301/kennard?rel=emailNation.
Ministry Blasts ‘Illegal’ Freeport Mining
The increasingly frustrated Indonesian Ministry of Forestry has issued a second warning to mining giant PT Freeport Indonesia for not obtaining a permit to mine in protected forest areas. London-listed Rio Tinto helped to finance expansion of Freeport’s massive Grasberg mine in Indonesian-occupied West Papua and continues to profit from it. Forestry Minister Zulkifli Hasan [...]
Anglo American financial news
Anglo American beats earnings forecasts but stops short of reinstating dividends
The group posted a 51% drop in annual earnings per share on the back of weaker metal prices and said the resumption of dividend payments remained a key priority.
See http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=98929&sn=Detail&pid=92730.
Anglo American Chile accounts for 41% of group’s total 2009 operating profits
Anglo American Chile, the local [...]
Copper price up 6.3% week-on-week despite higher stocks
The price of copper closed at US$3.262/lb cash on the London Metal Exchange Friday, up 6.3% week-on-week, while global stocks rose 0.9% to 766,712t, enough for 2.2 weeks of world consumption.
See http://www.bnamericas.com/news/metals/Copper_price_up_6,3*_week-on-week_despite_higher_stocks/175372189.
