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Anglo American delivers 3.5-billion USD profit, declares final dividend

20 February 2020 7:18 PM
Tags:
Anglo American Platinum
Anglo American
Mark Cutifani
Stats SA mining production report
SA mining
diamon mining
Anglo American delivered a 2019 profit attributable to equity shareholders of 3.5-billion USD

Results for Anglo American platinum and Kumba iron ore pointed to the fact that Anglo would be reporting solid results.

De Beers had a rough year but the company, which until recently had been spending its capital on buying back its own shares, is now eyeing expansion.

Copper in Peru, potash in the United Kingdom - those are the big immediate projects.

Bruce Whitfield asked Anglo American's chief what's giving him the confidence to spend, when so many mining companies are incredibly wary to do so.

From our point of view it is the quality of the projects we have in the pipeline. But I'd also like to say we're investing in Venetia, in Kumba - and we want to invest in Mogalakwena in the platinum business as well.

Mark Cutifani, Chief Executive Officer - Anglo American

We still look at commodities and make sure we're understanding the pricing dynamic. When you have very low cost assets that have good characteristics they're the sort of assets that we do best. When you've got those assets you try and get them to the right size; the right potential.

Mark Cutifani, Chief Executive Officer - Anglo American

For us, South Africa as a jurisdiction remains a positive and one that we do like.

Mark Cutifani, Chief Executive Officer - Anglo American

LIsten to the full interview below.

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This article first appeared on 702 : Anglo American delivers 3.5-billion USD profit, declares final dividend


20 February 2020 7:18 PM
Tags:
Anglo American Platinum
Anglo American
Mark Cutifani
Stats SA mining production report
SA mining
diamon mining

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