11.59 +0.03 (0.26%)
Pre-Market: 5:54AM EDT
|Bid||11.57 x 3200|
|Ask||11.66 x 1400|
|Day's Range||11.53 - 11.69|
|52 Week Range||7.08 - 15.86|
|Beta (3Y Monthly)||-0.36|
|PE Ratio (TTM)||36.24|
|Forward Dividend & Yield||0.07 (0.58%)|
|1y Target Est||15.20|
Lithium Americas (LAC) focuses on advancing the Cauchari-Olaroz and Thacker Pass projects. This will enable it to address growing global demand for lithium.
As uncertainty over the outcome of Sino-American trade talks grows, investors should target tariff-proof stocks that stand to gain from an all-out trade war.
A transaction for the Mponeng mine southwest of the capital Johannesburg is unlikely to rock financial markets or cause a great political upset. While it’s still one of the world’s 10 biggest gold reserves, AngloGold will do well to get more for the pit than its $533 million carrying value at the end of 2018. As Felix Njini of Bloomberg News has detailed in multiple articles, the gold mining industry that built South Africa and produced about half of the yellow metal that’s ever been dug up seems now to be in terminal decline.
Sibanye, headed by South Africa’s prolific mining deal-maker, Neal Froneman, would be interested in purchasing AngloGold’s remaining mine in the country. “There should be three interested parties: Harmony, Sibanye and Heaven-Sent,” Swanepoel said. Sibanye would “certainly engage” AngloGold on the sale of its South African assets, but any deal depends on timing, Froneman said in an interview.
Anglo’s creation in 1917 by Ernest Oppenheimer and the subsequent development of what was for decades the world’s biggest gold industry underpinned the development of South Africa into the continent’s preeminent economy. Its retreat from the industry, which has become expensive and dangerous as mines extended miles underground, began in 1998 when Anglo merged its separate gold subsidiaries to create AngloGold Ltd. AngloGold announced on Thursday that it’s in the early stages of a sales process for Mponeng, the world’s deepest mine and its last underground operation in South Africa.
AngloGold Ashanti has begun the sale of its final gold mine in South Africa, marking an end to an era of gold mining in the country. Kelvin Dushnisky, the former Barrick Gold executive who became chief executive of AngloGold last year, said its Mponeng underground mine would be better owned by another company who could commit the capital needed to extend its life. “We believe that under the right ownership, our South African assets offer a compelling long-term value proposition that may allow for an extension to Mponeng Mine’s current life,” Mr Dushnisky said.