Terence Creamer Mining Weekly Deputy Editor The project portfolio
of natural resources group Anglo American is poised to expand its
so-called ‘big five’ to 11, with a number of
feasibility studies nearing conclusion, and its re-entry into
Zambia edging ever closer.
In all, the projects – some of which are already under
construction – have a combined capital expenditure of some
$5,3-billion to be spent on three continents over the next three
years. Seven of these are destined for Africa, three for South
America and one for North America.
The base metal division, headed by James Campbell, is set to take
the lion’s share of the investment spend with several
projects in metals such as zinc, nickel and copper. Platinum and
golmobile crushing plant australiad investments make up the balance.
The projects highlighted by Anglo chairperson and CEO Julian
Ogilvie Thompson include: The $528-million Loma de Niquel project
designed to produce 16 000 t/y of nickel, to start production in
Venezuela later this year.
The 240 000 oz/y Yatela gold-mine being developed by Anglogold for
$75-million in Mali.
The two Amplats projects, Bafokeng Rasimone and Maandagshoek,
which, together, will add sales figures crushers australia412 000 oz at a capital cost of
$420-million.
A total of four zinc projects (Skorpion, Black Mountain Deeps,
Hudson Bay 777 and Gamsberg), with a capital cost of $1,45-billion,
which could bring some 500 000 t/y of zinc into production within
five years. All the projects, bar the one under way at Hudson Bay,
are still under feasibility study.
Three copper projects (Konkola Deep in Zambia, Salobo in Brazil and
Quellaveco in Peru), which, togetturkey suppliers fine grinding ball mill planther, could add 608 000 t/y to the
production base at a cost of about $2,8-billion.
These projects exclude a slew of other developments and acquisition
possibilities in play across the length and breadth of the group,
such as a plan to double production of Tati nickel, developments at
Palabora Mining and progress at the Murrin Murrin laterite-nickel
venture in Western Australia.
Ogilvie Thompson also makes it plain that the group ihs code crusher backing compounds considering
bids from the Shell Coal assets, which are up for sale, as well as
Cerrejon Norte in Colombia.
The most significant progress, however, is going to be in base
metals, where a large number of projects reside. Already the
division is beginning to pay its way, with total operating profits
doubling to $174-million last year.
This was mainly on the back of the successful introduction of
Collahuasi, which, in its first full year of production,
contributepicture of crushing plant from swedend $96-million to total operating profit.
Beyond that, the next exciting step will be the return of Anglo to
the Zambian copperbelt, from where it was exiled due to
nationalisation a few decades ago.
Ogilvie Thompson says the group is pleased, following long
discussions, to have reached agreement with the International
Finance Corporation (IFC) and the Commonwealth Development
Corporation (CDC) and the Zambian government on a re-entry
package.
“What we have now agreed to buy is quite different, and
smaller than originally expected; it is a package which will give
even more satisfactory returns than the one we were looking at last
year with Codelco,” enthuses Ogilvie Thompson.
Anglo and its partners will set up a new company, KMC, which will
acquire 100% of Konkola, Nchanga and Nampundwe from ZCCM.
The company (65% held by ZCI and the balance shared by IFC, CDC and
ZCCM) has made a commitment to invest, subject to the viability of
each capital programme, $208-million over the next three years to
get the existing mines running more efficiently.
During that period it will also finalise the feasibility study and
raise the finance for the $520-million Konkola Deep mining
project.
At the same time, ZCI will sell its 26% in ZCCM back to the Zambian
government. “We are confident that it will give us good value
and that it will also help to stabilise Central Africa,”
Ogilvie Thompson concludes.