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2014 Interim Results

25 July 2014

Anglo American announces continuing improvement in operating performance against backdrop of weaker commodity prices.

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  • Improved business performance, reflecting a greater focus on mining processes and costs underpins turnaround strategy
  • Higher volumes across most of the portfolio, with cash costs down 2% in real terms
  • Headwinds of weaker commodity prices ($1.0 billion underlying operating profit impact) and the effects of the platinum strike ($385 million underlying operating profit impact)
  • Group underlying operating profit of $2.9 billion for the half year, a 10% decrease
  • Group underlying earnings of $1.3 billion for the half year, a 3% increase
  • Interim dividend maintained at 32 US cents per share
  • Long term net debt target of $10 to $12 billion, supported by increased operating cash flows and divestment proceeds from refocusing of portfolio
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