There is £1.4bn of the metal - which is used in electric batteries - around the South Crofty mine near Redruth, the company said yesterday. About 65,000 tonnes of tin are thought to be in the area.
The multinational mining company slashed its annual guidance for coal.
Anglo American is a little under 20% up year-to-date in the stock market.
Anglo American plc (LON: AAL) reported a 3% increase in its first-quarter production on Thursday. The company, however, slashed its annual guidance for coal (metallurgical and thermal).
Anglo American shares that you can learn to buy online here opened at £30.62 in the stock market on Thursday and are currently trading at £30.44. The miner had touched a year-to-date high of £32 per share last week. In comparison, Anglo American had started the year 2021 at a much lower £25.72 per share.
Anglo American’s copper production jumps 9%
Should I buy Anglo American shares?
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I’ve been busy this week. I have already dealt with
Open Orphan, one of my portfolio holdings, and its plans for a demerger. Today I am dealing with another.
Anglo American(LSE:AAL) wants shareholder approval to spin-off its thermal coal operations in South Africa into a new holding company, Thungela Resources. If shareholders, like me, back the move, they will get one Thungela share for every 10 Anglo shares they own. At least 75% of shareholders need to approve the demerger at the annual general meeting on 5 May 2021.
I suspect the motion will be passed. The 3% rise in the Anglo American share price after the announcement suggests investors in Anglo approve of the move.
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