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LON100:AAL, Jul 18, 08:57 UTC

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AP Ventures Established as an Independent Venture Capital Fund, Subscribed by Anglo American Platinum and Public Investment Corporation

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Anglo American Platinum is the world's leading primary producer of PGMs and is expected to continue to provide AP Ventures with the benefit of industry expertise, market knowledge and access to international networks. The PIC is one of Africa's largest investment managers, with assets totalling over US$160 billion, and through its extensive investment research expertise brings unrivalled insight to AP Ventures and its portfolio companies. Having enjoyed success and built a strong track record as part of Anglo American Platinum's PGM Investment Programme, we have taken the decision to separate the fund's activities into an independent structure that will attractadditional outside investment and allow AP Ventures to increase the scale of its activities." Whilst at Anglo American Andrew established the successful Corporate Venture Capital Fund, the predecessor fund to AP Ventures, to invest in innovative companies which utilize PGMs. Andrew is a board member of two investee companies, Food Freshness and GreyRock.

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Social Chatter

Anglo American PLC (LON100:AAL) social chatter is higher than usual

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Heavy Equipment Technician: De Beers Canada Inc. (Yellowknife NT): "Rotation: 2 weeks in / 2 weeks out The De Beers Group of Companies has an exciting opportunity for a motivated and..." #trades #eluta https://t.co/rw2nSaVwlV

Monday, July 16


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Anglo Platinum Sees Profit Jump After Operations, Prices Improve

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Headline earnings may rise to as much as 3.42 billion rand. Anglo American Platinum Ltd. said it expects to report a fourfold increase in first-half profit after operations improved and metal prices rose. The world’s biggest platinum miner’s so-called headline earnings, which exclude some once-off items, are likely to be between 3.28 billion rand ($248 million) and 3.42 billion rand, the Johannesburg-based company said in a statement Monday. “The expected increase in headline earnings and basic earnings is due to improved operational performance of the company and improvement in the rand basket price for the period,” Anglo Platinum said.

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Sunday, July 15


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De Beers to focus on smaller cities in India for expansion

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De Beers to focus on smaller cities in India for expansion By Press Trust of India | New Delhi | Last Updated at July 15 2018 11:35 IST. Global diamond producer De Beers is looking to partner local retailers in smaller cities to boost sales which it claims grew at 100 per cent last year.The company sells its diamond jewellery through. "There is a strong appetite for diamonds in smaller cities. We plan to increase stores gradually in those cities by partnering local retailers," Forevermark CEO and Executive VP De Beers Group of Companies Stephen Lussier told PTI. In 2018, we will double again," he said adding that the Forevermark brand has 30 per cent market share in India.

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Tuesday, July 10


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David Drumm given suspended sentence over share scheme

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Ex-Anglo chief David Drumm given suspended sentence over share scheme. Drumm (51), who is already serving a six-year sentence for conspiracy to defraud and false accounting, pleaded guilty last month to authorising unlawful loans to 10 property developers, all long-standing borrowers at the bank, to buy shares in Anglo. At the Dublin Circuit Criminal Court, Judge Karen O’Connor in sentencing Drumm took into account Drumm’s guilty pleas, saying he had avoided a “lengthy and complex” trial with numerous witnesses. It seemed clear, she said, that the regulator knew of the bank’s plan for short-term lending to the Quinn family to “go long” on 15 per cent of the shares behind Mr Quinn’s CFDs, though there was “a degree of ambiguity” about what the regulator knew of the lending to the 10 developers known as the “Maple 10” to take a further 10 per cent stake in the bank.

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Wednesday, July 04


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Market report: Anglo climbs on talk of Vedanta tie-up

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Mining giant Anglo American leapt ahead of its sinking rivals on reports that its top shareholder, Indian metals tycoon Anil Agarwal, is plotting an ambitious move to merge his Vedanta Resources and the FTSE 100 firm’s South African assets. Mr Agarwal is mulling a long-rumoured approach for part of the mining mammoth after snapping up the rest of Vedanta Resources, a report in the Indian media claimed. According to the rumours, Mr Agarwal would take Vedanta private, then acquire Anglo through a share swap before later listing the combined company. The bonds will be exchanged for either cash or Anglo shares in 2020, meaning that Mr Agarwal has until then to use his influence to force through a deal with Vedanta.

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Breakingviews - Agarwal’s Anglo American carve-up looks a stretch

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(Reuters Breakingviews) - The fog surrounding Anil Agarwal’s intentions with Anglo American is only slightly thinner. The Indian billionaire is mulling a merger of his resources group Vedanta with the global miner’s South African operations, Indian newspaper Mint reported on Wednesday. Agarwal’s near-20 percent interest in Anglo, whose equity and debt are worth $35 billion, gives him a pulpit. But he doesn’t actually own the shares: instead he’s paying a 4 percent coupon on bonds that convert into equity in 2020. The Public Investment Corporation, a South African pensions entity that controls 13 percent of Anglo, could swap its new shares with Agarwal’s stake in South Africa, as both would both be worth between $2 billion and $3 billion, according to Breakingviews estimates.

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Social Chatter

Anglo American PLC (LON100:AAL) social chatter is higher than usual

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@AngloAmerican climbs on report of Agarwal merger interest - The Financial Times https://t.co/rywOPh6Rak @nuzzel @ft #Mining #commodities

Tuesday, July 03


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Quinn family action denying libaility for Anglo loans set for hearing early next year

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That action, plus a separate action by IBRC, Anglo's successor in title, alleging various Quinn family members and others conspired to put multi-million assets beyond the bank's reach, has been on hold pending the hearing of criminal proceedings against various Anglo executives and officials, including the bank's former CEO David Drumm. The court was previously told Mr Quinn Junior and his wife, who have three children, are not in paid work and get living expenses, totalling some €100,000 annually, from accounts controlled by receivers appinted over their assets. Mr Quinn Junior, the court heard, has been working unpaid since sumer 2017 as part-time CEO of his father's new business, QuinnBet, because it was a start up with insufficient funds so far to pay him a salary. Today Mr Justice Haughton was told the expenses and sale applications were not proceeding as the sides had agreed on various orders, including for sale of two properties, an apartment owned by Mr Quinn at Clarion Quay, North Wall, and a property of Ms Woods' at Lower Kimmage Road.

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Friday, June 29


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Former Anglo Irish Bank CEO pleads guilty to fresh charges - RTE

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Money. Former Anglo Irish Bank CEO pleads guilty to fresh charges - RTE. (Reuters) - The former Anglo Irish Bank CEO, who was sentenced this month to six years in jail, pleaded guilty on Friday to separate charges relating to the bank's collapse, national broadcaster RTE reported. David Drumm was charged with offering unlawful loans to 10 bank clients in 2008 to enable them to buy shares in the lender and boost its falling stock price. Drumm's sentencing next month for the separate charges will bring an end to nine years of criminal investigations into Anglo Irish, which accounted for almost half of the 64 billion euros ($74.49 billion) taxpayers had to stump up to save Ireland's banks.

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