x
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Report Date : |
16.02.2012 |
IDENTIFICATION DETAILS
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Name : |
ANGLO AMERICAN METALLURGICAL COAL PTY LTD |
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Registered Office : |
201 Charlotte Street Brisbane Queensland 4000 |
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Country : |
Australia |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.10.1996 |
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Com. Reg. No.: |
076059679 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Equity interest in Queensland and New South Wales coal mining
operations for Anglo American Group. |
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No. of Employees : |
3,500 Full time (Anglo American Metallurgical Division) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject name : ANGLO AMERICAN METALLURGICAL COAL PTY LTD
Business address : 201 Charlotte Street
Town : Brisbane
Province : Queensland
Zip/postal code : 4000
Country : Australia
Tel : +61 7 38341333
Fax : +61 7 38341390
Email : marketing@anglocoal.com.au
Website : www.angloamerican.com.au
Registered address : 201 Charlotte Street
Town : Brisbane
Province : Queensland
Zip/postal code : 4000
Country Australia
Postal address : GPO Box 1410
Town : Brisbane
Province : Queensland
Zip/postal code : 4001
Country : Australia
Executive Summary
Date founded or registered : 21/10/1996
Legal form : Australian Proprietary Company
Chief executive : Seamus Gerard French
Issued & paid up capital : AUD 1
Sales turnover : USD 27,960,000,000 (Group consolidated 12 months, 31/12/2010)
Net income : USD 8,119,000,000 (Group consolidated 12 months, 31/12/2010)
Total fixed assets : USD 66,656,000,000 (Group consolidated 12 months, 31/12/2010)
Line of business : Equity interest in Queensland and New South Wales coal mining operations for
Anglo American Group.
Staff employed : 3,500 Full time (Anglo American Metallurgical Division)
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience: Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Payment history : No payment delays noted
Credit amount suggestion: USD 2,500,000
Credit amount asked : Not described.
Comments
: Larger credit can still be considered.
The Subject is well positioned in the market and the financial stability of the
group is positive.
Registry Data
Registration date :
21/10/1996
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
076059679
Registered authority : Australian
Securities & Investments Commission
Fiscal/ Tax no :
Australian Business Number: 93076059679
Registry status :
Live/Active
Previous name : The Subject was established under the name
SHELL COAL AUSTRALIA (MANAGEMENT) PTY LTD and changed its name to SHELL COAL
PTY LTD on
24-06-1997. SHELL COAL PTY
LTD then changed its name to ANGLO COAL AUSTRALIA PTY LTD on 27-07-2000. ANGLO
COAL AUSTRALIA PTY LTD adopted to the current style on 09-12-2009.
Change of legal form : None reported.
Key Management
Name : Seamus Gerard French
Designation : Chief Executive Officer
Name : Gerhard Ziems
Designation : Chief Financial Officer
Name : David Diamond
Designation : Head of Human Resources
Appointments
Name : Seamus Gerard French
Designation : Director
Appointment date : 06/12/07
Address : 175 Virginia Avenue
Hawthorne, QLD 4171
Australia
Biography : Born on 22-05-1962 in Dublin, Ireland.
Name : Dieter Paul Haage
Designation : Director
Appointment date : 02/06/09
Address : 57 Seacrest Court
Cleveland, QLD 4163
Australia
Biography : Born on 01-01-1963 in Hertford, United Kingdom.
Name : Gerhard Ziems
Designation : Director
Appointment date : 10/03/11
Address : 51 Orleigh Street
West End, QLD 4101
Australia
Biography : Born on 18-06-1969 in Salzgitter, Germany.
Name : Mark David Heaton
Designation : Director
Appointment date : 10/03/11
Address : 11 Amy Street
Hawthorne, QLD 4171
Australia
Biography : Born on 04-11-1967 in Melbourne, Victoria, Australia.
Name : Matthew Paul Boland
Designation : Company Secretary
Appointment date : 09/08/04
Address : 26 Yardley Avenue
Ashgrove, QLD 4060
Australia
Biography : Born on 26-07-1969 in Brisbane, Queensland, Australia.
Name : Benjamin David Houston
Designation : Company Secretary
Appointment date : 31/10/08
Address : 50 Wellington Street
Wooloowin, QLD 4030
Australia
Biography : Born on 28-12-1976 in Frankston, Victoria, Australia.
Name : Helen Patricia Kelly
Designation : Company Secretary
Appointment date : 12/07/11
Address : 7 Edred Street
Carindale, QLD 4152
Australia
Biography : Born on 31-08-1969 in Rockhampton, Queensland, Australia.
Staff employed : 3,500 Full time (Anglo American Metallurgical Division)
Key Advisors
Auditors : DELOITTE TOUCHE TOHMATSU
123 Eagle Street
Brisbane, QLD 4000
Australia
Composition
Authorized Capital :
AUD 1
No of shares : 1 Ordinary Share
Share par value :
AUD 1
Issued capital : AUD 1
Paid up capital : AUD 1
How listed : Full List
Composition
Shareholder name : ANGLO AMERICAN METALLURGICAL COAL
HOLDINGS LIMITED
Address :
201 Charlotte Street
Brisbane, QLD 4000
Australia
No. of shares :
1 Ordinary Share
% of shares : 100%
Structure
Name : ANGLO AMERICAN PLC
Affiliation type : Ultimate Holding Company
Address : 20 Carlton House Terrace
London SW1Y 5AN
United Kingdom
Comments : Anglo American plc operates in the mining industry. The company’s portfolio of mining assets includes precious, base and bulk commodities. The company’s mining businesses are Platinum, Diamonds, Base Metals, Iron Ore (Ferrous Metals) and Coal. It has operations in approximately 45 countries.
Platinum
The company mines, processes and refines the entire range of platinum group metals (platinum, palladium, rhodium, ruthenium, iridium and osmium). All of Anglo Platinum’s operations are located in South Africa. Anglo Platinum wholly
owns five mining operations, a tailings re-treatment facility, three smelters, a base metals refinery and a precious metals refinery, all in the Limpopo and North West provinces of South Africa. Each of its mines operates its own concentrator facilities, with smelting and refining of the output being undertaken at Rustenburg
Platinum Mines’ metallurgical facilities. The company’s 100% owned mining operations comprise Rustenburg Platinum Mines’ Rustenburg, Amandelbult, Mogalakwena and Twickenham sections as well as Lebowa Platinum Mines, 51% of which is held for sale. Rustenburg Platinum Mines’ Union Section is 85% held, with a black economic empowerment (BEE) partner, the Bakgatla-Ba-Kgafela traditional community, holding the remainder. Anglo Platinum also has a 50:50 joint venture with a BEE consortium, led by African Rainbow Minerals, over the Modikwa platinum mine, a joint venture with Royal Bafokeng Resources, a BEE partner, over the combined Bafokeng-Rasimone platinum mine and Styldrift properties and a joint venture with Xstrata over the Mototolo mine. In addition, Anglo Platinum has joint ventures with Aquarius Platinum covering the shallow reserves of the Kroondal and Marikana mines and portions of the reserves at Anglo Platinum’s Rustenburg Section.
Diamonds
Anglo American’s diamond interests are represented by its 45% shareholding in De Beers. De Beers operates in the diamond business. Its activities include all aspects of the diamond pipeline, including prospecting, mining and recovery. De Beers produces approximately 40% of the rough diamonds by value from its mines in Botswana, Canada, Namibia and South Africa. De Beers holds a 50% interest in Debswana Diamond Company and in Namdeb Diamond Corporation, owned jointly with the Government of Botswana and the Government of Namibia, respectively, and a 70% shareholding in De Beers Marine Namibia. In addition,
De Beers has a 74% shareholding in South African based De Beers Consolidated Mines Limited, with a broad-based black economic empowerment consortium (the Ponahalo group) holding the balance. De Beers owns 100% of The Diamond Trading Company (DTC), the sales and rough diamonds distribution arm of De Beers. It also has a 50% interest with the Government of Botswana in Diamond Trading Company Botswana (DTCB) and a 50% ownership, along with the Government of Namibia’s matching shareholding, in Namibia Diamond Trading Company (NDTC). De Beers and LVMH Moët Hennessy Louis Vuitton have established a high-end retail jewellery joint venture, through De Beers Diamond Jewellers (DBDJ), with stores in the areas of New York, Los Angeles, London, Paris, Tokyo and Dubai. De Beers, through Element Six, is a major producer of synthetic industrial diamond material; applications include cutting, grinding, polishing, wire making and other technical and scientific uses.
Base Metals
Anglo Base Metals has interests in 13 operations in six countries, producing copper, nickel, zinc, niobium and phosphate fertilizers, together with associated by-products, including lead, molybdenum and silver. In Chile, its six copper operations comprise the wholly owned Los Bronces, El Soldado, Mantos Blancos
and Mantoverde mines, the Chagres smelter and a 44% interest in the Collahuasi mine. Other South American operations are the Loma de Níquel nickel mine in Venezuela, and the Codemin nickel and Catalão niobium mines in Brazil. Anglo Base Metals also has a controlling interest in Copebrás, a Brazilian producer of phosphate fertilisers and phosphoric acid. In southern Africa, the Skorpion mine produces zinc and the Black Mountain mine produces zinc and associated
by-products such as lead. Anglo Base Metals’ sole European operation is the
Lisheen zinc and lead mine in Ireland.
Ferrous Metals
Anglo Ferrous Metals’ primary business is iron ore. In South Africa, it holds a
63% shareholding in Kumba Iron Ore and in Brazil, it holds a 99.4% interest in the
Minas-Rio iron ore project, a 69.2% interest in the Amapá
iron ore system and a
49% interest in LLX Minas-Rio, the owner of the port of Açu. Other interests principally comprise Samancor Manganese (manganese ore and alloy mining) and Scaw Metals (carbon steel products). Through Kumba Iron Ore, Anglo American engages in the iron ore production.
Coal
The company’s coal interests are held through its wholly owned Anglo Coal business. Anglo Coal produces approximately 100 million tonnes of thermal and metallurgical coal from four geographic regions: South Africa, Australia, South America (Venezuela and Colombia) and North America (Canada). Industrial Minerals Anglo Industrial Minerals’ sole business is Tarmac, the aggregate and building products business. Tarmac has operations in the U.K construction materials industry, as well as markets in continental Europe and the Middle East. History Anglo American PLC was founded in 1917.
Name : ANGLO AMERICAN METALLURGICAL COAL HOLDINGS LIMITED
Affiliation type : Parent Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Comments : Anglo American Metallurgical Coal Holdings Limited a wholly owned subsidiary of Anglo American PLC holds a proportionately consolidated jointly controlled operations in 5 mines/sites in Australia:
1) Drayton (88.2% owned)
2) Moranbah North (88% owned)
3) German Creek (70% owned)
4) Foxleigh (70% owned)
5) Dawson (51% owned)
Name : ANGLO AMERICAN METALLURGICAL COAL ASSETS EASTERN AUSTRALIA LIMITED
Affiliation type : Sister Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Name : ANGLO COAL (MORANBAH NORTH MANAGEMENT) PTY LIMITED
Affiliation type : Sister Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Name : MORANBAH NORTH COAL (SALES) PTY LTD
Affiliation type : Sister Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Name : NS COAL (MORANBAH NORTH) PTY LTD
Affiliation type : Sister Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Name : MORANBAH NORTH COAL (NO2) PTY LTD
Affiliation type : Sister Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Name : ANGLO AMERICAN METALLURGICAL COAL FINANCE LIMITED
Affiliation type : Sister Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Name : ANGLO AMERICAN METALLURGICAL COAL ASSETS PTY LTD
Affiliation type : Sister Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Name : MORANBAH NORTH COAL PTY LTD
Affiliation type : Sister Company
Address : 201 Charlotte Street
Brisbane, QLD 4000
Australia
Related companies and corporate affiliations comments: Other companies of the Anglo American Group should be considered affiliates of the Subject.
Bank Details
Name of bank : HSBC Bank Australia Limited
Address : Australia
Account details :
Current Account
Comments : It is generally not the policy of local
banks to provide credit status information to non related parties, however
interested parties would be advised to consult first with the Subject if
banker's references are required.
|
Mortgages : Legal Fillings |
None reported. |
|
|
Bankruptcy
fillings :
Court judgements :
Tax liens :
Others : |
None reported. None
reported. None reported. None reported. |
|
Description Source of
financial statement : |
Public Record Sources |
|
|
Financial
statement date :
Type of accounts :
Currency : Consolidation
type : |
31/12/10 Full audited US Dollar (USD) Group Consolidated |
Group Consolidated |
|
Currency : |
US Dollar (USD) |
US Dollar (USD) |
|
Denomination : |
(x1) One |
(x1) One |
|
Date of
financial year end : |
31/12/10 |
31/12/09 |
|
Length of
accounts : |
12 months |
12 months |
|
Sale turnover /
Income : |
27,960,000,000 |
20,858,000,000 |
|
Gross profit : |
11,067,000,000 |
4,436,000,000 |
|
Profit before
tax : |
10,928,000,000 |
4,029,000,000 |
|
Net income : |
8,119,000,000 |
2,912,000,000 |
|
Non current
assets : |
51,978,000,000 |
45,277,000,000 |
|
Current assets : |
14,348,000,000 |
10,411,000,000 |
|
Inventories : |
3,604,000,000 |
3,212,000,000 |
|
Total assets : |
66,656,000,000 |
56,308,000,000 |
|
Current
liabilities : |
7,882,000,000 |
6,745,000,000 |
|
Non current
liabilities : |
20,661,000,000 |
21,303,000,000 |
Total liabilities : 28,685,000,000 28,239,000,000
Share equity : 37,971,000,000 28,069,000,000
Retained earning : 27,146,000,000 21,291,000,000
Comments : The group’s consolidated financial information
above relates to the Subject’s Ultimate Holding Company Anglo American PLC and
all its subsidiaries which include the Subject.
Main activities : The Subject hold equity interest in Queensland and New South Wales coal mining operations for Anglo American Group.
The coal mining operations produces metallurgical coal which is black coal primarily used for steel making.
The Subject is ultimately owned by Anglo American PLC, incorporated in
United Kingdom.
Anglo American PLC is a large mining company. Anglo American PLC is engaged in mining platinum, diamonds, coal, base metals, iron ore, metallurgical coal and thermal coal in Africa, Europe, South and North America, Australia, and Asia.
Product & services : coking coal
PCI (pulverised coal injection)
Purchases
International : Asia, Europe
Sales
Local : Yes
International : Asia, Europe, South America
Key events : Anglo Reaches 8-Month High on Buyout Talk
2 February 2012
Feb. 2 (Bloomberg) -- Anglo American Plc climbed to its highest in eight months amid speculation a combined Xstrata Plc and Glencore International Plc could make a bid for the diversified mining company. The stock gained as much as 4.3 percent and closed 3.4 percent up at
340.63 rand in Johannesburg, the highest since May 31. Shares worth 244 billion rand traded ($31.8 billion), 247 percent of the three-month average volume and almost twice as much as rival BHP Billiton Ltd.
“What is affecting sentiment the most is the speculation about Xstrata and Glencore,” Doug Blatch, head of equity trading at Investec Asset Management, said by phone from Cape Town. “Immediately the market starts thinking what else could be in play. It’s a game of chess; who makes the next move?”
Glencore is looking to buy the shares it doesn’t already own in Xstrata to add coal, copper and nickel mines from Africa to Asia. Xstrata dropped a proposed 29.2 billion-pound ($46.2 billion) offer to merge with Anglo and create one of the world’s largest mining companies in October 2009 after the London-based company’s board snubbed the approach.
“We know that Anglo has potentially been a target before,” Blatch said. “What would be the next move for a combined Xstrata-Glencore if that were to happen?”
‘Different Drivers’
Anglo may not be a good fit for Xstrata and Glencore if they were to merge, Peter Davey, a London-based mining analyst with SBG Securities said by phone.
“Glencore is primarily a trading house; you don’t trade diamonds and platinum,” Davey said. “I think a combined entity of Xstrata and Glencore might have different drivers than where Xstrata was coming from before.” Improved sentiment after data showed an expansion in manufacturing across the globe may also be boosting mining shares, while a report in today’s Business Day that South Africa’s ruling African National Congress found that the nationalization of mines would be unconstitutional and too expensive also contributed, Investec’s Doug Blatch said. U.S. manufacturing grew at the fastest pace since June, a report showed yesterday. The U.K.’s factory measure unexpectedly reached an eight-month high, and manufacturing gauges in South Africa, Europe, China and India rose in January.
“I don’t think the market has given too much credence to the fact that full nationalization was on the cards,” Blatch said. “Increased royalties would probably be more acceptable to most. At the margin, it certainly is positive.”
The government can’t afford to buy stakes in South Africa’s mines, and it would be against the constitution to seize them, the Johannesburg-based newspaper said. Mining companies should pay more tax and royalties, and there should be more processing of raw materials locally with higher duties on the export of unprocessed minerals, Business Day said.
“The good news is there’s no point in killing the golden goose; the sting in the tail is we need to take more royalties and taxes,” Davey said. “Anglo is going to get taxed even more in South Africa where it makes half its revenue. Where’s the good news in that?”
Anglo American Seen Takeover Bait by Glencore-Xstrata
3 February 2012
Feb. 3 (Bloomberg) -- Already one of the cheapest major mining companies, Anglo American Plc is becoming an even more likely takeover target with Xstrata Plc and Glencore International Plc’s potential merger threatening to leave it dwarfed by three of its closest rivals.
London-based Anglo may attract interest from Xstrata and Glencore should they combine to create an $82 billion company, people familiar with the matter said. Anglo, which is less than half the size of either BHP Billiton
Ltd. or Rio Tinto Group, sold for 6.4 times earnings yesterday, according to data compiled by Bloomberg. That’s cheaper than any of its biggest competitors, apart from Rio de Janeiro-based Vale SA.
Glencore and Xstrata together could have the financial wherewithal to take over Anglo, worth $59 billion yesterday, after Xstrata failed in 2009 to convince Anglo to combine in a “merger of equals.” By acquiring Anglo’s assets in diamonds, platinum and steelmaking coal, the Glencore-Xstrata entity would vault past Rio and rival BHP, the world’s largest mining company by revenue, data compiled by Bloomberg show. Anglo may also be attractive to BHP, according to WallachBeth Capital LLC and Lutetia Capital.
“Anglo hasn’t closed the ranks sufficiently to prevent” a takeover, Timothy Parker, manager of the $4.5 billion T. Rowe Price New Era Fund in Baltimore, said in a telephone interview. The fund owns shares of Anglo, Xstrata, BHP and Rio. “You can see the obvious allure” for Glencore and Xstrata, he said.
“Buying Anglo would let them enter the ranks of the true majors. Anglo is the right size for a combined company. It’s big, but it’s doable,” Parker said.
Diamonds, Coal James Wyatt-Tilby, a spokesman for Anglo, declined to comment on whether it has been approached about an acquisition.
Simon Buerk, a spokesman at Baar, Switzerland-based Glencore, Alison Flynn, a spokeswoman for Xstrata in Zug, Switzerland, and Kelly Quirke, a spokeswoman for Melbourne-based BHP, all declined to comment on whether the companies are interested in acquiring Anglo.
Anglo, which mines for everything from diamonds to platinum and coal and has operations on almost every continent, was founded in Johannesburg
by Ernest Oppenheimer in 1917. It grew to become South Africa’s biggest company during apartheid as sanctions limited its ability to expand abroad. The company, which moved its headquarters to London in 1999, controls Anglo American Platinum Ltd., the biggest producer of the metal used in catalytic converters that make exhaust fumes less toxic.
Anglo also bid $5.1 billion in November to boost its stake in De Beers, the world’s largest diamond miner, to 85 percent.
Back Together
Anglo climbed 3.6 percent to a six-month high of 2,830.5 pence in London yesterday on speculation that a combined Glencore and Xstrata may eventually make a bid for the company. The shares advanced 2.4 percent at 2:56 p.m. today in London.
Xstrata in October 2009 dropped its proposed 29.2 billion- pound ($47.4 billion) offer to merge with Anglo, five days before a deadline for it to make a formal bid or walk away. Anglo, which had turned down the merger plan in June of that year, rejected the strategic rationale and “underwhelming valuation” of the proposal.
“Anglo American has always been within the sights of the Glencore
group,” Sachin Kumar, an analyst with Paris-based AlphaValue, said in an e-mail. Glencore is “better placed to merge Xstrata with itself. So this may be why markets are more confident of a takeover of Anglo American this time,” he said.
Glencore, which holds 34 percent of Xstrata, made an approach regarding an all-share “merger of equals,” Xstrata said in a statement yesterday. Financial Power
Glencore, the world’s largest publicly traded commodities supplier, said there’s no certainty of an offer. A combination would bring together two groups that separated a decade ago when Xstrata bought Glencore’s Australian and South African coal mines for $2.5 billion and went public in London.
A merger between Glencore and Xstrata would also create an $82 billion rival to BHP, valued at $203 billion yesterday, and Rio, which had a market capitalization of $123 billion, data compiled by Bloomberg show.
Together, Glencore and Xstrata would have the flexibility and financial power to make large acquisitions, according to people familiar with the discussions.
They may consider an offer for Anglo, though any such move would be unlikely to happen before they complete their merger, said the people, who declined to be identified because the matter is private. That process may take as long as six to eight months, one person said, adding that any offer for Anglo could be preempted by rival bids from its competitors.
Not Imminent
“Anglo is undervalued and has good prospects,” said David Winters, the Mountain Lakes, New Jersey-based manager who oversees the $1.5 billion Wintergreen Fund, which has beaten 99 percent of its competitors in the past five years and owns shares of Anglo. Still, “we have to see what happens with Glencore and Xstrata. Nothing’s confirmed yet so I think we have to wait on that,” he said.
Anglo yesterday traded at 6.4 times its earnings in the past 12 months, data compiled by Bloomberg show. That was less than half its average of 14 times in the past decade and about a third lower than the average for base metal mining companies and raw materials suppliers with more than $20 billion in value.
“It must be very attractive to take out companies as cheap as Anglo,” Gerhard Lampen, head of Sanlam iTrade, a unit of South Africa’s biggest insurer, said in a telephone interview from Johannesburg. “They are targets for sure.”
Potential Buyers
BHP could also be interested in Anglo, according to Lutetia Capital and
WallachBeth Capital.
Anglo’s diamond holdings would be an attraction for BHP, according to
Jean-Francois Comte, co-founder of Lutetia, which manages a $100 million event-driven fund in Paris.
BHP, which needs a large deal to “move the needle,” may be interested in Anglo’s coal assets, according to Yemi Oshodi, managing director of M&A and special situations trading at New York-based WallachBeth. Anglo may also pursue an acquisition of its own, he said.
“The likely Xstrata-Glencore deal means it’s more pressing now for Anglo to look for a corporate tie-up of its own,” said Gavin Wendt, founder and senior resource analyst at Mine Life Pty in Sydney. Anglo “will be feeling the pressure because it risks being left behind,” he said.
BHP, Rio
T. Rowe’s Parker said that combining Anglo with Glencore and Xstrata makes the most sense and would help the new entity compete with two of the world’s largest mining companies by revenue, BHP and Rio.
BHP had $72 billion in sales in the past 12 months, while Rio had $60 billion, data compiled by Bloomberg show. Together, sales at Anglo and Xstrata reached $64 billion.
Buying Anglo would also give Glencore, which trades commodities including coal, oil and metals, a greater supply of materials to put through its network, Parker said.
“In the past, there has been a lot of speculation about such an end game,” Jeff Largey, an analyst at Macquarie Group Ltd. in London, said in a telephone interview. “The market thinks that this could be a natural combination. You would see Xstrata and Glencore pair up and ultimately merge with Anglo.”
Property & Assets
Premises : The Subject operates from headquarters located at the verified heading address consisting of administrative office.
Branches : In addition, the Subject operates from mine operation offices located at:
Callide Mine
PO Box 144
Biloela QLD 4715
Australia
Phone +61 7 4990 1611
Fax +61 7 4990 1687
Capcoal Mine
Via Middlemount
Middlemount QLD 4746
Australia
Phone +61 7 4985 0200
Fax +61 7 4985 7962
Dartbrook Mine
PO Box 517
Muswellbrook NSW 2333
Australia
Phone +61 2 6540 8888
Fax +61 2 6541 1935
Dawson Mine Dawson Highway Moura QLD 4718
Australia
Phone +61 7 4990 9700
Fax +61 7 4990 9800
Drayton Mine
PMB 9
Muswellbrook NSW 2333
Australia
Phone +61 2 6542 0200
Fax +61 2 6542 5009
Foxleigh Mine
PO Box 21
Middlemount QLD 4746
Australia
Phone +61 7 4985 9000
Fax +61 7 4985 7000
Grasstree Mine Via Middlemount Private Mail Bag
Middlemount QLD 4746
Australia
Phone +61 7 4985 0900
Fax +61 7 4985 0902
Moranbah North Mine
PO Box 172
Moranbah QLD 4744
Australia
Phone +61 7 4968 8600
Fax +61 7 4968 8678
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product - GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate : 2008: 4.2%
2009: 5.6%
2010: 5.2%
Public debt
(General Government gross debt as a % GDP) : 2008: 11.6%
2009: 17.6%
2010: 22.3%
Government bond ratings : Standard & Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares : US$1.258 trillion
Largest companies in the country : Westpac Banking Group (Major Banks), BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks), Telstra (Telecommunications services), Wesfarmers (Food Retail)
Trade & Competitiveness Overview
Total exports : US$210.7 billion
Exports commodities : coal, iron ore, gold, meat, wool, alumina, wheat
Total imports : US$187.2 billion
Imports commodities : machinery and transport equipment, computers and office machines, telecommunication equipment and parts, crude oil and petroleum products
Export - major partners : Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners : China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows : 2008: US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows : 2008: US$32,819 million
2009: US$18,426 million
2010: US$26,431 million
Best countries for doing business: 10 out of 183 countries
Global competitiveness ranking : 20 (ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total population : 22.23 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian dollars (AUD)
Internet users as % of total population: 76.00%
Purchase Term
International : L/C, Telegraphic transfer, Credit up to
120 days
Sales Term
Local : Prepayment, Bank transfer, Credit up to
120 days
International : L/C, Telegraphic transfer, Credit up to
120 days
Trade Reference/ Payment
Behaviour
Comments : As local and international trade
references were not supplied, the Subject's payment track record history cannot
be appropriately determined but based on our research, payments are believed to
be met without delay.
Investigation Note
Sources : Interviews and material provided by the
Subject
: Other official and local
business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.29 |
|
|
1 |
Rs.77.45 |
|
Euro |
1 |
Rs.64.89 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.