REG - Anglo American PLC - Acquisition of minority interest in Canada Nickel

Anglo AmericanAnnouncement

08/02/2023 13:30

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RNS Number : 3430P  Anglo American PLC  08 February 2023

 8 February 2023
 Anglo American to acquire 9.9% of Canada Nickel, owner of the Crawford nickel
 project

Anglo American has agreed to acquire a 9.9% minority interest in Canada Nickel
Company Inc. ("Canada Nickel"), which owns the Crawford nickel project in
Ontario, Canada ("the Crawford project").

 

Anglo American will also provide technology expertise to the Crawford project
and has the exclusive right to purchase up to 10% of recoveries of nickel
concentrate, iron and chromium contained in the magnetite concentrates and any
corresponding carbon credits from the Crawford project. Anglo American's
equity funding will support Canada Nickel's work to complete the necessary
permitting requirements to proceed with development of the project.

 

The investment is part of Anglo American's approach to expand its nickel
product offering with additional battery-grade nickel for use in electric
vehicles, complementing nickel production from Anglo American's PGMs mines in
South Africa, as well as ferronickel from its nickel assets in Brazil which is
mostly destined for the global stainless-steel industry.

 

Peter Whitcutt, CEO of Anglo American's Marketing business, said: "As a
responsible provider of future-enabling metals and minerals to our customers,
we are committed to supporting our industry in increasing the availability of
critical materials that will underpin the success of the energy transition,
and to do so sustainably."

 

Anglo American will apply its FutureSmart Mining™ technologies to ore
samples from Canada Nickel , with the aim of assessing opportunities to
improve processing recoveries and reduce the project's overall energy,
emission and water footprint.

 

"Our in-depth product knowledge and portfolio of innovative technologies have
the potential to provide a value-enhancing contribution to the development of
the Crawford project, with the objective of unlocking additional supply of
nickel to meet the world's growing demand for battery technology for electric
transport", added Peter Whitcutt.

 

Located in a tier-one mining jurisdiction in Ontario, Canada, with optimal
support infrastructure, the Crawford project is one of the largest
undeveloped, bulk tonnage nickel sulphide resources in the world. If brought
into production, the project is expected to play an important role in
expanding the available supply of battery-grade nickel.

 

The completion of the private placement and related offtake and technology
agreements is subject to customary closing conditions, including the approval
of the TSX Venture Exchange and is targeted to close on or about 28 February
2023.

 

 

 

 

 

 

 

 

 

 

For further information, please contact:

 

 Media                                                                              Investors

 UK                                                                                 UK

 James Wyatt-Tilby                                                                  Paul Galloway

 james.wyatt-tilby@angloamerican.com                                                paul.galloway@angloamerican.com (mailto:paul.galloway@angloamerican.com)
 (mailto:james.wyatt-tilby@angloamerican.com)

                                                                                  Tel: +44 (0)20 7968 8718
 Tel: +44 (0)20 7968 8759

                                                                                  Emma Waterworth
 Marcelo Esquivel                                                                   Emma.waterworth@angloamerican.com (mailto:Emma.waterworth@angloamerican.com)

Tel: +44 (0) 20 7968 8574
 marcelo.esquivel@angloamerican.com (mailto:marcelo.esquivel@angloamerican.com)

 Tel: +44 (0)20 7968 8891

                                                                                  Michelle Jarman

                                                                                  michelle.jarman@angloamerican.com (mailto:michelle.jarman@angloamerican.com)
 Rebecca Meeson-Frizelle

 Rebecca.meeson-frizelle@angloamerican.com                                          Tel: +44 (0)20 7968 1494
 (mailto:Rebecca.meeson-frizelle@angloamerican.com)

 Tel: + 44 (0)20 7968 1374

 South Africa

 Nevashnee Naicker

 nevashnee.naicker@angloamerican.com

 Tel: +27 (0)11 638 3189

 Sibusiso Tshabalala

 sibusiso.tshabalala@angloamerican.com
 (mailto:sibusiso.tshabalala@angloamerican.com)

 Tel: +27 (0)11 638 2175

Notes to editors:

Anglo American is a leading global mining company and our products are the
essential ingredients in almost every aspect of modern life. Our portfolio of
world-class competitive operations, with a broad range of future development
options, provides many of the future-enabling metals and minerals for a
cleaner, greener, more sustainable world and that meet the fast growing every
day demands of billions of consumers. With our people at the heart of our
business, we use innovative practices and the latest technologies to discover
new resources and to mine, process, move and market our products to our
customers - safely and sustainably.

 

As a responsible producer of diamonds (through De Beers), copper, platinum
group metals, premium quality iron ore and steelmaking coal, and nickel - with
crop nutrients in development - we are committed to being carbon neutral
across our operations by 2040. More broadly, our Sustainable Mining Plan
commits us to a series of stretching goals to ensure we work towards a healthy
environment, creating thriving communities and building trust as a corporate
leader. We work together with our business partners and diverse stakeholders
to unlock enduring value from precious natural resources for the benefit of
the communities and countries in which we operate, for society as a whole, and
for our shareholders. Anglo American is re-imagining mining to improve
people's lives.

www.angloamerican.com (http://www.angloamerican.com)

 

 

 

 

 

 

Forward-looking statements:

This document includes forward-looking statements. All statements other than
statements of historical facts included in this document, including, without
limitation, those regarding Anglo American's financial position, business,
acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations (including development plans and objectives
relating to Anglo American's products, production forecasts and Ore Reserve
and Mineral Resource positions) and environmental, social and corporate
governance goals and aspirations, are forward-looking statements. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Anglo American or industry results to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.

 

Such forward-looking statements are based on numerous assumptions regarding
Anglo American's present and future business strategies and the environment in
which Anglo American will operate in the future. Important factors that could
cause Anglo American's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global demand and
commodity market prices, mineral resource exploration and development
capabilities, recovery rates and other operational capabilities, safety,
health or environmental incidents, the effects of global pandemics and
outbreaks of infectious diseases, the outcome of litigation or regulatory
proceedings, the availability of mining and processing equipment, the ability
to produce and transport products profitably, the availability of transport
infrastructure, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, the effects of
inflation, political uncertainty and economic conditions in relevant areas of
the world, the actions of competitors, activities by courts, regulators and
governmental authorities such as in relation to permitting or forcing closure
of mines and ceasing of operations or maintenance of Anglo American's assets
and changes in taxation or safety, health, environmental or other types of
regulation in the countries where Anglo American operates, conflicts over land
and resource ownership rights and such other risk factors identified in Anglo
American's most recent Annual Report. Forward-looking statements should,
therefore, be construed in light of such risk factors and undue reliance
should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo American
expressly disclaims any obligation or undertaking (except as required by
applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules,
the Disclosure and Transparency Rules of the Financial Conduct Authority, the
Listings Requirements of the securities exchange of the JSE Limited in South
Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian
Stock Exchange and any other applicable regulations) to release publicly any
updates or revisions to any forward-looking statement contained herein to
reflect any change in Anglo American's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.

 

Nothing in this document should be interpreted to mean that future earnings
per share of Anglo American will necessarily match or exceed its historical
published earnings per share. Certain statistical and other information about
Anglo American included in this document is sourced from publicly available
third party sources. As such it has not been independently verified and
presents the views of those third parties, but may not necessarily correspond
to the views held by Anglo American and Anglo American expressly disclaims any
responsibility for, or liability in respect of, such information.

 

Legal Entity Identifier: 549300S9XF92D1X8ME43

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