TIDMAAL
RNS Number : 3430P
Anglo American PLC
08 February 2023
8 February 2023
Anglo American to acquire 9.9% of Canada Nickel, owner of
the Crawford nickel project
Anglo American has agreed to acquire a 9.9% minority interest in
Canada Nickel Company Inc. ("Canada Nickel"), which owns the
Crawford nickel project in Ontario, Canada ("the Crawford
project").
Anglo American will also provide technology expertise to the
Crawford project and has the exclusive right to purchase up to 10%
of recoveries of nickel concentrate, iron and chromium contained in
the magnetite concentrates and any corresponding carbon credits
from the Crawford project. Anglo American's equity funding will
support Canada Nickel's work to complete the necessary permitting
requirements to proceed with development of the project.
The investment is part of Anglo American's approach to expand
its nickel product offering with additional battery-grade nickel
for use in electric vehicles, complementing nickel production from
Anglo American's PGMs mines in South Africa, as well as ferronickel
from its nickel assets in Brazil which is mostly destined for the
global stainless-steel industry.
Peter Whitcutt, CEO of Anglo American's Marketing business,
said: "As a responsible provider of future-enabling metals and
minerals to our customers, we are committed to supporting our
industry in increasing the availability of critical materials that
will underpin the success of the energy transition, and to do so
sustainably."
Anglo American will apply its FutureSmart Mining(TM)
technologies to ore samples from Canada Nickel , with the aim of
assessing opportunities to improve processing recoveries and reduce
the project's overall energy, emission and water footprint.
"Our in-depth product knowledge and portfolio of innovative
technologies have the potential to provide a value-enhancing
contribution to the development of the Crawford project, with the
objective of unlocking additional supply of nickel to meet the
world's growing demand for battery technology for electric
transport", added Peter Whitcutt.
Located in a tier-one mining jurisdiction in Ontario, Canada,
with optimal support infrastructure, the Crawford project is one of
the largest undeveloped, bulk tonnage nickel sulphide resources in
the world. If brought into production, the project is expected to
play an important role in expanding the available supply of
battery-grade nickel.
The completion of the private placement and related offtake and
technology agreements is subject to customary closing conditions ,
including the approval of the TSX Venture Exchange and is targeted
to close on or about 28 February 2023.
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Emma Waterworth
marcelo.esquivel@angloamerican.com Emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0) 20 7968
8574
Rebecca Meeson-Frizelle
Rebecca.meeson-frizelle@angloamerican.com Michelle Jarman
Tel: + 44 (0)20 7968 1374 michelle.jarman@angloamerican.com
Tel: +44 (0)20 7968 1494
South Africa
Nevashnee Naicker
nevashnee.naicker@angloamerican.com
Tel: +27 (0)11 638 3189
Sibusiso Tshabalala
sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175
Notes to editors:
Anglo American is a leading global mining company and our
products are the essential ingredients in almost every aspect of
modern life. Our portfolio of world-class competitive operations,
with a broad range of future development options, provides many of
the future-enabling metals and minerals for a cleaner, greener,
more sustainable world and that meet the fast growing every day
demands of billions of consumers. With our people at the heart of
our business, we use innovative practices and the latest
technologies to discover new resources and to mine, process, move
and market our products to our customers - safely and
sustainably.
As a responsible producer of diamonds (through De Beers),
copper, platinum group metals, premium quality iron ore and
steelmaking coal, and nickel - with crop nutrients in development -
we are committed to being carbon neutral across our operations by
2040. More broadly, our Sustainable Mining Plan commits us to a
series of stretching goals to ensure we work towards a healthy
environment, creating thriving communities and building trust as a
corporate leader. We work together with our business partners and
diverse stakeholders to unlock enduring value from precious natural
resources for the benefit of the communities and countries in which
we operate, for society as a whole, and for our shareholders. Anglo
American is re-imagining mining to improve people's lives.
www.angloamerican.com
Forward-looking statements:
This document includes forward-looking statements. All
statements other than statements of historical facts included in
this document, including, without limitation, those regarding Anglo
American's financial position, business, acquisition and divestment
strategy, dividend policy, plans and objectives of management for
future operations (including development plans and objectives
relating to Anglo American's products, production forecasts and Ore
Reserve and Mineral Resource positions) and environmental, social
and corporate governance goals and aspirations, are forward-looking
statements. By their nature, such forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
Anglo American or industry results to be materially different from
any future results, performance or achievements expressed or
implied by such forward-looking statements.
Such forward-looking statements are based on numerous
assumptions regarding Anglo American's present and future business
strategies and the environment in which Anglo American will operate
in the future. Important factors that could cause Anglo American's
actual results, performance or achievements to differ materially
from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global
demand and commodity market prices, mineral resource exploration
and development capabilities, recovery rates and other operational
capabilities, safety, health or environmental incidents, the
effects of global pandemics and outbreaks of infectious diseases,
the outcome of litigation or regulatory proceedings, the
availability of mining and processing equipment, the ability to
produce and transport products profitably, the availability of
transport infrastructure, the impact of foreign currency exchange
rates on market prices and operating costs, the availability of
sufficient credit, the effects of inflation, political uncertainty
and economic conditions in relevant areas of the world, the actions
of competitors, activities by courts, regulators and governmental
authorities such as in relation to permitting or forcing closure of
mines and ceasing of operations or maintenance of Anglo American's
assets and changes in taxation or safety, health, environmental or
other types of regulation in the countries where Anglo American
operates, conflicts over land and resource ownership rights and
such other risk factors identified in Anglo American's most recent
Annual Report. Forward-looking statements should, therefore, be
construed in light of such risk factors and undue reliance should
not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo
American expressly disclaims any obligation or undertaking (except
as required by applicable law, the City Code on Takeovers and
Mergers, the UK Listing Rules, the Disclosure and Transparency
Rules of the Financial Conduct Authority, the Listings Requirements
of the securities exchange of the JSE Limited in South Africa, the
SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release
publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in Anglo American's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
Nothing in this document should be interpreted to mean that
future earnings per share of Anglo American will necessarily match
or exceed its historical published earnings per share. Certain
statistical and other information about Anglo American included in
this document is sourced from publicly available third party
sources. As such it has not been independently verified and
presents the views of those third parties, but may not necessarily
correspond to the views held by Anglo American and Anglo American
expressly disclaims any responsibility for, or liability in respect
of, such information.
Legal Entity Identifier: 549300S9XF92D1X8ME43
, the news service of the London Stock Exchange. RNS is approved by
the Financial Conduct Authority to act as a Primary Information
Provider in the United Kingdom. Terms and conditions relating to
the use and distribution of this information may apply. For further
information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQGZGGZFRLGFZM
(END) Dow Jones Newswires
February 08, 2023 08:18 ET (13:18 GMT)
Anglo American (LSE:AAL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Anglo American (LSE:AAL)
Historical Stock Chart
From Sep 2023 to Sep 2024