In today’s briefing:
- Anglo American: Noteworthy Developments
- Aperam S.A. – Quick Note – July 3, 2023
- TMC the Metals Company, Inc. – US Congress Weighs In on Deep-Sea Nodule Collection
- FLASH NOTE – West Fraser Timber Co. Ltd.
Anglo American: Noteworthy Developments
- Recent events suggest change is en route at Anglo American plc.
- A managerial shakeup is in full swing with “next generation” leadership emphasized.
- Kio Kumba is pushing for a railway lease deal with the South African government.Investors must consider past and future impairment charges with caution.
Aperam S.A. – Quick Note – July 3, 2023
- 1st Vertical | Recycling and Renewables: A very important vertical segment helping APERAM Group to attain a neutral CO2 emission footprint.
- Innovative business based on new technology. Companies active within the segment are ELG (Recycling), BioEnergia (charcoal production from forests; plant in Brazil, CO2 neutral), Recyco (metal recycling from dust).
- Represented 13% of consolidated EBITDA in FY 2022.
TMC the Metals Company, Inc. – US Congress Weighs In on Deep-Sea Nodule Collection
Bringing the NDAA to bear. The US Congress, specifically the House of Representatives’ Armed Services Committee, directed the US Department of Defense to explore and assess the domestic ability to process undersea polymetallic nodules in the United States for the purpose of establishing a critical materials supply chain independent of China.
Auspicious timing. The timing of the request is notable, as it comes after several nations, including China, Norway, and Japan, began to move forward with deep-sea mineral extraction projects in their sovereign waters, now that the technology for collecting and transporting to the surface the polymetallic nodules found on the seabed is maturing and the July meeting of the ISA is about to get underway.
Not a member, but… While the US is not a signatory (member) of the ISA, it is an observer and, as such, has the ability to positively contribute to the conversation and weigh in on matters pertaining to the development and issuance of the final exploitation regulations for deep-sea mining in international waters.
FLASH NOTE – West Fraser Timber Co. Ltd.
- Our estimations for 2023 annual revenue range around $6,805 million and for 2024 around $7,354 million.
- The company’s annual revenue reached $9,701 million in 2022, compared to $10,518 million in 2021, posting a de- crease of 7.77%.
- West Fraser Timber Co. Ltd.’s gross profit for 2022 was $4,559 million, a decrease of 22% compared to $5,873 million for the corresponding period in 2021.
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