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LON100:AAL, Jan 22, 05:20 UTC

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Anglo’s polyhalite entry likely to hit MoP more than SoP – Danakali

AAL BLT

JOHANNESBURG (miningweekly.com) – The proposed entry of Anglo American into the fertiliser industry is more likely to impact the muriate of potash (MoP) market than the sulphur of potash (SoP) market, says Danakali CEO Niels Wage. Having worked for 13-and-a-half years looking after the market for the Jansen development in Saskatchewan, Wage now heads the Sydney- and London-listed Danakali company, which is developing the Colluli SoP project in Eritrea, where it is in 50:50 joint venture with the State-owned Eritrean National Mining Corporation. The multi-nutrient polyhalite-based Poly4 product that Anglo is setting out to acquire from Sirius is currently on the lowest rung of the price ladder when compared with MoP and SoP. But it is also at the lowest end of the cost curve. Global demand for MoP is between 65-million tonnes and 70-million tonnes a year and global demand for SoP is some seven-million tonnes a year. SoP sells at $500/t, MoP at $275/t and Poly4, when the prices of individual polyhalite elements are combined into a single basket price, at $200/t.

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Monday, January 20


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Anglo set to make low carbon fertiliser contribution

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Note: When you clear your default region you will be directed to the MiningWeekly.com home page regional edition associated with the geographic location of our IP address.Cookie Policy. Poly4 emits 93% less CO2 than the more elaborate processing of sulphur of potash (SoP) and 85% less CO2 than the high-volume muriate of potash (MoP), Anglo American CEO Mark Cutifani said on Monday when he announced that the board of Sirius Minerals is supporting Anglo’s cash offer of $525-million for all of its shares. On Anglo selling its Brazil-based niobium and phosphate businesses to China Molybdenum Company for $1.7-billion four years ago and now striding back into the fertiliser space, Cutifani said the need to exit niobium phosphate from Brazil was more around managing the balance sheet post its challenging experience with the Minas Rio iron-ore acquisition. The underlying potash theme of Boulby has given Anglo insight into polyhalite, a new product, but one that contains potassium, sulphur, magnesium and calcium, the nutrients common in today’s fertiliser market.

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Today's Market View - Sirius Minerals, Chaarat Gold, Anglo American and more...

AAL

Today's Market View - Sirius Minerals, Chaarat Gold, Anglo American and more... Sirius Minerals (SXX LN) / Anglo American (LON:AAL) - Anglo American agrees to buy Sirius Minerals for 5.5/s (£404m) Chaarat Gold* (CGH LN) 36p, Mkt Cap £169m – Issue of shares Keras Resources* (KRS LN) – Keras hires local team for Q1 start of production. John Dahn at Dalhousie which has an exclusive agreement with Tesla reckons new advances in battery materials should enable dramatic improvement in Li-ion battery performance. “The housing market dislikes uncertainty, and the unsettled political outlook over the last three and a half years since the EU referendum caused some potential home movers to hesitate… there now seems to be a release of this pent-up demand, which suggests we are in store for an active spring market,” Rightmove commented on numbers. Mr. Scrimshaw went on to explain that “given the current cash constraints of Sirius, and lack of realistic and deliverable alternative financing and development options, we believe this to be a fair approach from Anglo American, a company committed to approaching the Project in the right way, and with the resources to complete the job.”.

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StockBeat: Bargain-Hunter BAE Hits 18-Mo High; Anglo Snaps up Sirius

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StockBeat: Bargain-Hunter BAE Hits 18-Mo High; Anglo Snaps up Sirius. Not mining giant Anglo American (LON:AAL), apparently. Nor, for that matter, defense giant BAE Systems (LON:BAES), both of whom have announced opportunistic acquisitions on Monday. But the two deals have very different backgrounds and outlooks, and have provoked correspondingly different reactions. BAe’s shares rose as much as 3.2% to an 18-month high after it said it would buy two military businesses that U.S. antitrust regulators are forcing Raytheon (NYSE:RTN) and United Technologies (NYSE:UTX) to sell as part of their proposed merger. That merger was always likely to end in some rare and valuable assets coming on to the market, and the highly regulated nature of the defense business meant that BAe had relatively little competition for them. As a result, it’s been able to pick up Raytheon's Airborne Tactical Radios business for $275m and Collins Aerospace’s Military Global Positioning System business for $1.925 billion.

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Sirius Minerals agrees to be acquired by Anglo American for £404.9m

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Sirius Minerals agrees to be acquired by Anglo American for £404.9m. Mining company Anglo American said it had made a formal £404.9m takoever bid for Sirius Minerals and that it had been accepted by the British fertilizer hopeful's board. Anglo American had earlier this month offered 5.5p a share to acquire Sirus, representing a 34.1% premium the shares' closing price on 7 January. 'If the acquisition is not approved by shareholders and does not complete there is a high probability that the business could be placed into administration or liquidation within weeks thereafter,' Sirus said.

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Anglo American makes £405M play for Sirius Minerals

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Mining firm Anglo American has announced that it will step in to save Britain's largest mining project in decades, as it tabled a £405million bid to buy shares of Sirius Minerals. This means the deal will all but wipe out some of the 85,000 small retail investors who sunk money into the project. Mr Cutifani added that Anglo has 'no plans to make significant changes' to the jobs figures, but will look at opportunities to improve the project. But, he stressed, 'this process is about preserving and creating jobs, not cutting them.'. On Monday, Sirius chairman Russell Scrimshaw said: 'Four months ago, following the setbacks in the bond market, we took the difficult decision to slow the pace of development of our project and initiate a strategic review to reassess how best to unlock the long-term value for our shareholders, the community, the UK, and our customers all around the world.'.

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Anglo American to buy fertilizer maker Sirius Minerals

AAL

Anglo American to buy fertilizer maker Sirius Minerals. 20 January 2020, 07:29 UTC. (Reuters) - Anglo American <AAL.L> said on Monday it agreed to buy Sirius Minerals <SXX.L> for 404.9 million pounds ($526.2 million) in cash, marking the global miner's return to fertilizer. Sirius shareholders will receive 5.50 pence per share in cash, a 34.1% premium to the closing price on Jan. 7, the day before Anglo American said it was in talks to buy the fertilizer company. What to read next.

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Wednesday, January 15


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Why Sirius Minerals investors should take a hard look at Anglo American

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Together, the potential in copper, iron ore, and possibly potash, are the reason why I think Anglo American (LSE: AAL) could be that rare thing, a good income stock with growth potential. The story of the British potash company and the lesson for investors is now well known, but just because the Sirius Minerals share price has fallen by around 90% in the last four years or so, it doesn’t mean the company’s core product is no good. Should the mine one day fulfil its potential, it would be a good addition to Anglo American. While the deal may prove to be make or break for the potash mine, it’s just another deal for Anglo American. Anglo American has been moving into other areas and weaning itself off coal mines for some time, meaning that the company looks quite different than it did 10 years ago.

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Tuesday, January 14


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Anglo American likely to confirm deal to buy Sirius ahead of deadline - sources

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LONDON (Reuters) - Anglo American Plc <AAL.L> is likely to confirm a deal to buy fertiliser company Sirius Minerals Plc <SXX.L> for more than $500 million (£384 million) excluding debt, ahead of an early February deadline to finalise its bid, three sources close to the matter said. Anglo said on Jan. 8 it was in advanced talks over a 5.5 pence cash offer for the venture that is Britain's biggest mining project. A deal would throw a lifeline to Sirius and is politically resonant as it would save hundreds of jobs in northern England, where the lack of opportunities was an issue in the election that returned Prime Minister Boris Johnson's government to power. "There is significant value that Anglo can capture with the discount that Sirius trades at, because they can bring financing and knowledge on how to push the project forward," said RBC analyst Tyler Broda.

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Monday, January 13


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Anglo’s Digging a Hole for Itself in England

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(Bloomberg Opinion) -- Anglo American Plc is dabbling in creative M&A. Buying an English fertilizer project for just over $500 million, excluding debt, is more than manageable for a $35 billion mining giant that generated $1.3 billion in free cash flow in the first half of last year. Anglo said on Wednesday it may bid for London-listed Sirius Minerals Plc, owner of a giant potash project under the North York Moors national park. The mine’s future has been in question since a funding plan collapsed last year, after Sirius was forced to pull a $500 million junk bond sale, making it impossible to unlock a $2.5 billion credit facility from JPMorgan Chase & Co. That makes this an opportunistic move by Chief Executive Officer Mark Cutifani.

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