High-flying, dividend-talking RBPlat going into second half with tailwinds

High-flying platinum group metals (PGM) mining company Royal Bafokeng Platinum (RBPlat) is going into the second half of this Covid-hit year well-positioned with stockpile, upper group two (UG2), lower capital and gold-streaming tailwinds. RBPlat CEO Steve Phiri told a half-year results presentation highlighted by sky-rocketed earnings and flowing cash that both the Bafokeng Rasimone Platinum Mine (BRPM) and ramping-up Styldrift operation delivered strong performances and go into the second half  with 172 000 t already on surface, made up primarily of Merenksy reef from Styldrift. (Also watch attached Creamer Media video.)

RBPlat reports sky-rocketed first-half earnings on lower Covid-hit output

Mid-tier platinum group metals producer Royal Bafokeng Holdings on Tuesday reported sky-rocketed earnings on lower Covid-19-impacted half-year production. The JSE-listed company’s earnings before interest tax depreciation and amortisation in the six months to June 30 soared 297.2% to more than R2-billion, and headline earnings rocketed 624.7% to R862.6-million, compared with a R164.4-million loss in the first half of last year. Basic headline earnings per share were up 573.6% to 335.3 c a share.

Exchange control lifting sends strong growth message – Anglo

The lifting of exchange control by South Africa sends a really strong message about the country’s desire to promote investment and growth, says Anglo American finance director Stephen Pearce. He gave South Africa a pat on the back during Anglo’s virtual presentation of half-year results last week, describing the lifting of the exchange controls as a ”really pleasing development”.

Crop nutrients have double potential of coal being exited – Anglo

Covid-19 notwithstanding, diversified mining company Anglo American will this year be spending the $300-million that it forecast on the Woodsmith polyhalite project in the UK, which gives it entry into the crop nutrients business at a time when fertilising is being hailed a godsend to ease global food security fears. On  entering crop-nutrient mining and exiting thermal-coal mining, Anglo CEO Mark Cutifani told analysts during a virtual conference: “I think it’s important to remember that as we transition out of thermal coal, we’re building the crop nutrients business, which probably has got double the potential contribution it can make to the business. We think that’s a pretty good swop.”

World’s seeing widespread investment plans in hydrogen – Anglo

The broader portfolio of diversified mining and marketing company Anglo American is positioned to contribute an environmental-led new materials demand in a world that is seeing widespread investment plans in hydrogen, Anglo CEO Mark Cutifani said on Thursday. “We’ve seen the early evolution of electric vehicles and some of the challenges of energy storage. Now we’re seeing widespread investment plans in hydrogen, in China and Japan in the automotive sector, in buses using hydrogen in Britain, and now in Europe, we’re seeing a much broader application and pull for hydrogen products,” Cutifani said.

Operational agility underpins Anglo’s $3.4bn half-year earnings

The first half of 2020 has tested society to its limits, Anglo American CEO Mark Cutifani said on Monday, when the company reported 39%-lower $3.4-billion half-year earnings before interest, taxes, depreciation and amortisation (Ebitda). The interim dividend of $0.28 a share declared by Anglo is consistent with its 40% payout policy. “It’s been a very tough six months. Coivd-19 has had a material impact on our operations and the business, but certainly, from our perspective, I think we finished the half strong ,and we also believe that taking that improving performance into the second half will be the key to us delivering a much better full-year result,” Cutifani said. Mining Weekly can report that Anglo acted quickly at the onset of the pandemic to protect employees and host communities through its global ‘WeCare’ lives and livelihoods programme. At the same time, it secured the continuity and integrity of its operations.

Flight to quality favours South Africa – Kumba Iron Ore

The flight to iron-ore quality, driven by environmental concerns and the need for cleaner production and less air pollution, is a demand trend that favours South Africa’s high quality iron-ore. That is the view of Kumba Iron Ore executive head marketing and seaborne logistics Timo Smit, who was responding to Mining Weekly’s questions at the media conference that followed Kumba’s presentation of half-year results.