Anglo American Plc
Anglo American Plc
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Anglo American chief executive Mark Cutifani has credited the group’s continued productivity improvements along with better than expected prices for its 4% increase in underlying EBITDA to $US9.2B for the year to Dec (FY2018), up from $8.8B the previous year.
Attributable profit reached $3.5B (FY2017: $3.2B) on revenue of $27.6B ($26.2B). Free cash-flow was $3.2B ($4.9B).
Cutifani says Anglo American achieved $0.4B cost and volume improvements in FY2018, $4.6B over 6 years, and predicts $0.5B in $2019 and $3-4Bpa EBITDA improvement by 2022.
Diversified global miner Anglo American has flagged declining copper, diamonds, platinum and palladium production in the Dec 2019 year (FY/CY19), despite a good FY/CY18 with those products all up on 2017.
Despite a good 2018, with production of major commodities up, Anglo American is expecting a wide-ranging fall in 2019
Anglo American has lifted its 2019 production and costs expectations of the Minas-Rio iron ore operation in Brazil after ending a 9-month shutdown triggered by failures of two slurry pipelines in March.
The company now predicts the 100%-owned mine in Minas Gerais state will produce 18-20Mwt at $US28-31/t FOB in the financial year, up from its previous guidance of 16-19Mt at $30-33/t.