Company
LON:AAL
Anglo American is a leading global mining company focused on the responsible production of copper, premium iron ore and crop nutrients – future-enabling products that are essential for decarbonising the global economy, improving living standards, and food security. The company's portfolio of world-class operations and outstanding resource endowments offers value-accretive growth potential across all three businesses, positioning it to deliver into structurally attractive major demand growth trends.
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“Miners remain attractive as a relatively cheap ‘value’ sector exposed to growing demand,” Barclays Capital Inc said
"Sales were in line with expectations and both market sentiment and overall industry conditions remain positive," said De Beers chief executive Bruce Cleaver
Davis will become chairman of the company, and has pledged further funds in due course
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"We saw the continuation of good rough diamond demand during our second sales cycle of 2021 on the back of positive consumer demand for diamond jewellery," said Bruce Cleaver, chief executive of De Beers Group
The Woodsmith mine was acquired for £405mln in March 2020, and, subsequently by the end of 2021 Anglo will have sunk around US$800mln of investment into the project.
Amplats’ basket of platinum group metals (PGMs) saw prices jump by 70% on average in 2020
One of the early risers in New York was Tesla, which saw its shares boosted by its announcement of a US$1.5bn investment in Bitcoin
Copper production in the fourth quarter was up 6% on the same period last year, while iron ore was down 11%
Anglo American was once the most powerful mining presence in Africa
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The De Beers owner said it has seen “encouraging improvement” in demand for rough diamonds ahead of the holiday selling season
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Paradoxically, the junior explorers have held their value better than the producers
De Beers was prevented from carrying out its normal sales process earlier in the year due to restrictions on the movement of people and product in Botswana, South Africa and India
Revenue and underlying earnings fell by 16% and 39% respectively
“Strong performances from our Minas-Rio iron ore operation in Brazil and the Collahuasi copper operation in Chile helped mitigate our overall decrease in production to 18%,” said CEO Mark Cutifani
Hydrogen demand could support long-term platinum group metal demand but bring to higher capital expenditure
The bank said commodities had managed to avoid “the levels of extreme margin compression" seen in the 2008 and 2015 downturns and they expected domestic demand in China to “continue to surprise to the upside”
Anglo American Platinum is one of the world's largest platinum companies
