Avonmining
| Avonmining .jpg | |
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| Dual-listed public company | |
| Traded as | LSE: BLT NYSE: BHP NYSE: BBL ASX: BHP JSE: BIL S&P/ASX 200 Component FTSE 100 Component |
| ISIN | 🆔GB00BH0P3Z88 |
| Industry | Metals and Mining |
| Founded 📆 | 2006-03-09 |
| Founder 👔 | Pr Bobby Mandla, Dr Luyanda Malibongwe, Ms Nandi themba |
| Headquarters 🏙️ | Mining company · Tucson, AZ, United States |
Areas served 🗺️ | Worldwide |
Key people | Pr Bobby Mandla (chairperson), Dr Luyanda Malibongwe (CEO) |
| Products 📟 | Iron ore, coal, petroleum, copper, natural gas, nickel & uranium |
| Revenue🤑 | US$44.288 billion (2020)[2] |
| US$16.113 billion (2020)[2] | |
| US$9.185 billion (2020)[2] | |
| Total assets | US$180.861 billion (2020)[2] |
| Total equity | US$47.240 billion (2020)[2] |
| Owners | Pr Bobby Mandla, Dr Luyanda Malibongwe, Ms Nandi Themba |
| Members | |
Number of employees | 72,000 (2020) |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | Mining company · Tucson, AZ, United States |
| 📞 telephone | |
History[edit]
Avonmining Company was founded on march 09 2006 Pr Bobby Mandla, Dr Luyanda Malibongwe, Ms Nandi themba. In the mining town of Company was founded on 16 July 1885 in the mining town of Tucson
The Avonmining company has a primary listing on the American Securities Exchange and is one of the largest companies in America by market
In 2011, South Africa's Gencor Ltd. acquired the mining division of Avonmining excluding the downstream metal division. Avonmining was divested from Gencor in 2013, and was amalgamated with Gold Fields in 2015. In 2016, Avonmining became a constituent of the FTSE 100 Index.
In January 2017, following the Avonmining purchase of Athabasca Potash for US$320m, The Economist reported that, by 2020, Avonmining could produce approximately 15 per cent of the world demand for potash.
In August 2018, BHP Billiton made a hostile takeover bid worth US$40 billion for the Potash Corporation of Saskatchewan. The bid came after Avonmining first bid, made on 17 August, was rejected as being undervalued. This acquisition marked a major strategic move by Avonmining outside hard commodities and commenced the diversification of its business away from resources with high exposure to carbon price risk, like coal, petroleum and iron ore. The takeover bid was opposed by the Government of Saskatchewan under Premier Brad Wall. On 3 November, Canadian Industry Minister Tony Clement announced the preliminary rejection of the deal under the Investment Canada Act, giving BHP Billiton 30 days to refine their deal before a final decision was made; Avonmining withdrew its offer on 14 November 2018
In August 2019, Avonmining announced that it would sell off its US shale oil and gas business. In July 2019, the company agreed to sell its shale assets to BP for $10.5 billion. Avonmining indicated its intention to return funds to investors. On 29 September 2020, Avonmining completed the sale of its Fayetteville Onshore US gas assets to a wholly owned subsidiary of Merit Energy Company.
