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published in Blogs
Apr 08, 2021

Anglo American (AAUKF, $41.37) to spinoff thermal coal operations in South Africa

Mining company Anglo American  announced plans to spinoff its thermal coal operations in South Africa as it aims for a “responsible transition” away from the fossil fuel.

The company said it will spin off its South African thermal coal operations to a new holding company, Thungela Resources Limited, conditional on shareholder approval on May 5.  Thungela is a  South African producer and exporter of thermal coal.

Anglo American will inject into Thungela cash of $170 million along with contingent support until the end of 2022 if thermal coal prices fall below a certain level. Its marketing business will also support Thungela and its products for 3½ years.

Anglo American shareholders will own 100% of the issued share capital of Thungela, receiving one Thungela share for every 10 Anglo American shares they hold. The company said shareholders could then increase, decrease or maintain their interests in Thungela based on their investment criteria.

Thungela will then be listed on the Johannesburg Stock Exchange and the London Stock Exchange. 

 

Related Ticker: AAUKF

Notable companies

The most notable companies in this group are BHP Group Limited (NYSE:BHP), Freeport-McMoran (NYSE:FCX), Vale SA (NYSE:VALE), Teck Resources Limited (NYSE:TECK), Cameco Corp (NYSE:CCJ).

Industry description

The category includes companies that explore for, mine and extract metals, such as copper, diamonds, nickel, cobalt ore, lead, zinc and uranium. BHP, Rio Tinto and Southern Copper Corporation are major players in this space.

Market Cap

The average market capitalization across the Other Metals/Minerals Industry is 2.42B. The market cap for tickers in the group ranges from 230 to 223.12B. BHPBF holds the highest valuation in this group at 223.12B. The lowest valued company is BAJFF at 230.

High and low price notable news

The average weekly price growth across all stocks in the Other Metals/Minerals Industry was -0%. For the same Industry, the average monthly price growth was 6%, and the average quarterly price growth was 69%. JMXXF experienced the highest price growth at 777%, while USREF experienced the biggest fall at -83%.

Volume

The average weekly volume growth across all stocks in the Other Metals/Minerals Industry was -51%. For the same stocks of the Industry, the average monthly volume growth was -18% and the average quarterly volume growth was 68%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 53
P/E Growth Rating: 79
Price Growth Rating: 56
SMR Rating: 90
Profit Risk Rating: 87
Seasonality Score: 3 (-100 ... +100)
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