Anglo American announces significant operational improvements amid sharply lower commodity prices.
- Delivered on all major commitments for 2014 – operational performance, project delivery and portfolio restructuring targets
- Strong operational performance across every business (4% production increase on Cu Eq. basis)
- Group underlying EBIT of $4.9 billion, a 25% decrease due to sharply weaker commodity prices ($2.4 billion underlying EBIT impact), partially offset by weaker producer country currencies ($1.3 billion positive impact to underlying EBIT) and increased production and sales volumes
- Special items after tax and non-controlling interest include commodity price-driven impairments of $3.9 billion, including $3.5 billion at Minas-Rio
- Net debt of $12.9 billion as at 31 December 2014 (2013: $10.7 billion), with $15.1 billion of liquidity; $1.7 billion of bonds maturing in 2015 and $1.6 billion maturing in 2016.
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