Anglo American PLC (LSE:AAL) was the latest of the large diversified mining companies to report record earnings for 2021 due to strong commodity prices.
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Underlying earnings (EBITDA) more than doubled to US$20.6bn (£15.3bn) as better prices for all of its products and an increase in PGM, iron ore and diamond production outweighed unfavourable exchange rates and higher input costs.
It plans to pay a final dividend of US$1.18 per share, as well as a special dividend of US$0.50 per share, bringing its total return to shareholders to US$6.2bn (including a share buyback).
“In a year of two distinct halves, we recorded strong demand and prices for many products as economies recouped lost ground, spurred by government stimulus,” said chief executive Mark Cutifani.
“Copper and PGMs - essential to the global decarbonisation imperative - and premium quality iron ore for greener steelmaking, supported by an improving market for diamonds, all contributed to a record financial performance.”