Anglo American shares ended down 2. 4% in London after announcing that production at the Grosvenor premium coking coal mine in central Queensland was suspended due to a fire that broke out on Saturday morning. tomorrow and it still continues.
At the same time, global coking coal prices rose 5% in expired trades in Singapore, the main pricing centre, to more than $262 a tonne. Initially, prices had not reacted to the announcement of the fire, remaining at $238 per ton. at the close of last Friday. Prices only rose after investors realized that Anglo American had announced that the mine would be closed for several months, causing a rise in percentage values consistent with Australian coal miners.
Anglo-Saxon stocks fell 4% at the London open on Monday before a partial recovery pared the final loss.
The mine is one of Anglo’s five mines in central Queensland and ships hard coking coal (premium) to Asian markets.
Grosvenor expected to contribute around 2. 3 million tonnes to Anglo’s partial production for the year (through June) of around 8 million tonnes. For the 2024 total, the expected production for the steelmaking coal sector is 15 to 17 million tonnes, of which Grosvenor expects to contribute around 3. 5 million tonnes, representing production in the second half due to a planned move towards long gauges. The move would have reduced production in part in December, to 1. 2 million tonnes, worth more than $300 million at current world prices.
Since Tuesday morning, a sense has emerged that the mine will need significant maintenance if it is accessible. It is highly unlikely that at this point it will be possible to estimate when it will be possible to do so, although it is expected to take months. This could delay the sale of Anglo as part of its restructuring plan.
The chimney continued through Monday night, with activities focused on pumping nitrogen into the basement. There would be six crews in addition to the main mining mine where the longwall was located. The chimney at Queensland’s largest underground coal mine, near Moranbah, is now on its fourth day. Mining engineers say the damage could also lead to the mine being permanently closed once the fire is buried and engineers can access it for an assessment, which may not be carried out for months.
Anglo American has assured the network that its exclusion zone will entail all the consequences in the event of an explosion like the one that occurred in 2020.
The mine employs about 1,400 people, most of whom live in this city of 10,000 people.
According to mining media, a truck-mounted unit, powered by a jet engine, pumps nitrogen into the mine.
Anglo’s shares fell because, according to analysts, the fire could reduce the number of Anglo mines to four instead of the five the company plans to sell as part of its restructuring plan announced two months ago when it rejected BHP’s £31 billion takeover offer.
The news sent the Queensland-based competition up its percentage costs. Coronado, which produces coal in central Queensland, saw its percentages increase by more than 9%, while Whitehaven, which is in the process of merging the former BHP-Mitsubishi mines of Daunia and Blackwater, saw its percentages increase by more than 9%. 4%. Stanmore, Anglo’s smaller rival, saw its shares rise by as much as 5%, New Hope by as much as 3% and Yancoal, which produces coking and thermal coal from New South Wales and Queensland, saw its shares rise by 4%.
Even BHP’s inventories rose: the 1. 4% gain reversed the decline in inventories for at least a day.
BHP may wonder if this news has opened the door to a new offer later this year.
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Deep Leads Resource Increases Across the Board: Quality, Tonnage and Target Zone ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at the rare ion adsorption clay earth deposit ( IAC) from Deep Leads in northern Tasmania. The accumulation at MRE comes from 36 assayed exit wells, representing a significant northward extension to the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding MoUs in the 10-day area. Ford Company (Ford) signed a memorandum of understanding for around 25,000 t/year and last week, Hanwa, a Japanese raw materials trader, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are set to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but should, if Ford and Hanwa inject new capital into LKE, further de-risk the project financing and thus ensure that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for extension of the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade Tier 1 SOP production center around Lake Throssell.
Lately, TMG is completing paints in preparation for the PFS planned for early 2023, adding the start of drilling in Q3 2022, evaporation testing and permitting activities. The effects of these systems will affect the PFS and any long-term resource improvements.
SOP reference prices have increased to around $940/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that each 10% accrual in value effects amounted to $144 million accrued to the NPV of the $364 million allocation. The accrual of around 70% compared to the scoping study implies an NPV of the allocation of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell 5. 4% and 19. 7% respectively in August, Calima managed to show an improvement in its main indicators.
WT Financial Group Limited (WTL) is a rapidly growing diversified monetary company, founded in 2010 and indexed on the Australian Stock Exchange (ASX) in 2015. Its recommendations and product offerings are provided primarily through an advisory organization independent monetary advisors who act as legal advisors. representatives. WTL in relation to its broker organization activities Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisors in over two hundred money advice companies across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). It became so inspired by IMM that Corporate Connect considered it imperative to publish a follow-up report valuing the company, as The market did not see the great prospects for eftilagimod alfa (efti).
This follow-up report was released today. Using comparables, after adding a reduction of money to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at AU$2. 20.