Anglo American

IEEFA Research

IEEFA Report: BHP coal assets worth a billion less than just two years ago

Jumping Ship?

8 August 2020 (IEEFA Australia): Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting “from digging coal”. This follows BHP being put on a watch list by the Norwegian Sovereign Wealth Fund as a firm not adopting business strategies aligned with the […]

IEEFA report: Transition planning a must as South Africa’s export markets pivot away from thermal coal

New energy technology replacing coal-fired power faster than predicted

16 September 2019 (IEEFA South Africa) ‒ South African coal exports are approaching long-term decline, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA) out today. Author of the report Simon Nicholas, energy finance analyst with IEEFA, says the sector needs to come to terms with the prospect of fading […]

More News and Commentary

Norway’s investment fund withdraws coal-related holdings, puts others on notice

Reuters: Norway’s $1 trillion wealth fund is excluding some of the world’s biggest commodities firms from its portfolio, including Glencore and Anglo American, because of their use and production of coal. Underlining the growing role of climate considerations for long-term investors, the fund is also excluding German utility RWE, South African petrochemicals firm Sasol and […]

May 13, 2020 Read More →

Anglo American to exit South African thermal coal market

Bloomberg: Anglo American Plc plans to exit its biggest thermal coal business within the next three years by spinning off its South African operations as the miner accelerates its retreat from the dirtiest fuel. Anglo has been increasingly vocal on its plans to stop mining thermal coal in the past year but has so far […]

May 7, 2020 Read More →

Atlas Renewable to build 330MW solar plant for Anglo American’s Brazilian mining operations

PV Tech: Atlas Renewable Energy has signed an R$881 million (US$190 million), 15-year solar power purchase agreement (PPA) with the Brazilian arm of mining giant Anglo American. The deal will support the development of a 330MW PV plant in Pirapora Municipality in the southeastern state of Minas Gerais. The 613GWh-per-year deal – which is set […]

March 11, 2020 Read More →

Glencore writes off almost $1 billion at Colombian coal mines due to falling European imports

Bloomberg: The economic case against European coal is proving too much for even Glencore Plc. The world’s biggest coal shipper cut the value of its Colombian business — which mostly sells to Europe — by almost $1 billion as it adjusts to the struggling market. It also plans to stop mining coal in Colombia in […]

February 18, 2020 Read More →

IEEFA update: South Korea’s KEPCO writes off A$680m Bylong Coal Project in Australia

NSW Minerals Council increasingly detached from major miners’ reality

The NSW Minerals Council is increasingly out of step with big miners despite an apparent win after lobbying the NSW Government in the wake of the Bylong coal mine refusal. The Minerals Council campaigned to remove Scope 3 emissions – emissions burnt overseas from exported Australian coal – from planning assessment considerations after the NSW […]

February 12, 2020 Read More →

Anglo American Plc getting ready to exit thermal coal market

Bloomberg: Anglo American Plc will get out of thermal-coal mining in the next few years, following larger rivals in exiting the dirtiest fuel as investors ratchet up pressure over climate issues. “We are in a transition and we will end up without material thermal coal,” Anglo Chief Executive Officer Mark Cutifani said in an interview […]

February 4, 2020 Read More →

Anglo American eyes exit from thermal coal production sector

Bloomberg: Anglo American Plc dropped another hint that its days of mining the world’s most polluting fuel are limited. In a slew of presentations released for an investor visit to Anglo assets in Australia, thermal coal was noticeably absent from a list of units seen to have long-term potential. The company is on a trajectory […]

November 12, 2019 Read More →

Global price decline prompts substantial reduction in coal production at Colombia’s Cerrejon mine

Reuters: Cerrejon, one of Colombia’s largest coal mines, will reduce its operations by up to 18% because of a fall in international prices and amid an ongoing court case, the company’s chief executive said on Monday. Colombia, the world’s fourth-largest exporter of coal, faces a potential spending crunch next year as royalties from the fuel […]

October 8, 2019 Read More →
, and

IEEFA report: Transition planning a must as South Africa’s export markets pivot away from thermal coal

New energy technology replacing coal-fired power faster than predicted

16 September 2019 (IEEFA South Africa) ‒ South African coal exports are approaching long-term decline, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA) out today. Author of the report Simon Nicholas, energy finance analyst with IEEFA, says the sector needs to come to terms with the prospect of fading […]

Cerrejon mine CEO: Coal industry is in terminal decline

Bloomberg: Most chief executive officers paint a rosy picture when they talk about their companies’ prospects. Not Guillermo Fonseca. The CEO of Colombian coal giant Cerrejon — jointly owned by BHP Group Ltd, Glencore Plc and Anglo American Plc — isn’t sugar-coating anything. The industry, he says, is in terminal decline, and the company is […]

August 12, 2019 Read More →