Beyond Expectations
Mining Weekly|Mining Weekly 3 March 2017

Anglo exceeds target as 2016 net debt declines to $8.5bn

- Ilan Solomons
Beyond Expectations

Diversified miner Anglo American is this year seeking an additional $1-billion in incremental net cost and volume improvements, while also aiming to return to an investment-grade credit rating and resume dividend payments.

The group has already identified 75% of these targeted net cost and volume improvements.

Additionally, Anglo plans to maintain its capital expenditure at $2.5-billion and increase its stay-in-business capital to $1.2-billion this year, with capital to be “appropriately prioritised” to ensure that protection is provided for the long-term value of its assets.

During a teleconference call last week to discuss the group’s results for 2016, Anglo CEO Mark Cutifani said the “decisive and wide-ranging” operational, cost, capital and portfolio actions that Anglo put in place in 2016 had enabled the company to reduce its net debt to $8.5-billion from $12.9-billion in 2015, which was significantly below Anglo’s $10-billion target.

He commented that, despite a 3% decrease year-on-year in average commodity prices, Anglo had achieved a $3.5-billion increase in attributable free cash flow, a 25% increase in underlying interest, taxes, depreciation and amortisation (Ebitda) to $6.1-billion and increased its underlying Ebitda margin to 26%.

Cutifani said this “substantial” underlying Ebitda improvement was achieved despite headwinds, such as the labour stoppages and record snowfall at the company’s Los Bronces copper mine, in Chile, and the smelter runout at its platinum business in South Africa.

この蚘事は Mining Weekly の Mining Weekly 3 March 2017 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

この蚘事は Mining Weekly の Mining Weekly 3 March 2017 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

MINING WEEKLYのその他の蚘事すべお衚瀺
Supply Cliff?
Mining Weekly

Supply Cliff?

Commodities supply shortfall looming following years of underinvestment

time-read
3 分  |
Mining Weekly 17 March 2017
Strikes Threaten Coal Sector
Mining Weekly

Strikes Threaten Coal Sector

If an agreement cannot be reached on the future structure and form of wage nego­tiations in the coal sector, unions have threatened to strike, says Solidarity mining industry deputy general secretary Connie Prinsloo.

time-read
3 分  |
Mining Weekly 17 March 2017
Continued Focus On Downstream Development
Mining Weekly

Continued Focus On Downstream Development

Continued Focus On Downstream Development

time-read
2 分  |
December 08, 2017
Unrelenting Scourge
Mining Weekly

Unrelenting Scourge

Mining fatalities in South Africa rise for first time in decade

time-read
2 分  |
December 15, 2017
Plea For Open Discussion
Mining Weekly

Plea For Open Discussion

Diamonds body calls for ‘productive dialogue’ on Kimberley Process reform

time-read
3 分  |
December 15, 2017
Deep Potential
Mining Weekly

Deep Potential

Stillwater deal seen positioning Sibanye as globally competitive mining champion.

time-read
5 分  |
January 20 - 26, 2017
Explosive Advantage
Mining Weekly

Explosive Advantage

Explosives reloading system helping Gold One to reduce mining costs.

time-read
2 分  |
January 20 - 26, 2017
Critical Juncture
Mining Weekly

Critical Juncture

South Africa’s mining sector at a crossroads, collaborative effort required.

time-read
7 分  |
January 20 - 26, 2017
Consulting Engineering's Viability Proportional to Mining's Growth
Mining Weekly

Consulting Engineering's Viability Proportional to Mining's Growth

The consulting engineer-ing industry’s sustain-ability and growth are largely dependent on and proportional to the mining industry’s sustainability and growth respectively, says industry body Consulting Engineers South Africa (Cesa).

time-read
3 分  |
Mining Weekly 28 April 2017
Greater Emphasis On Ensuring Sustainability
Mining Weekly

Greater Emphasis On Ensuring Sustainability

Engineering expertise can be used to generate socio-economic gains for mining companies, particularly in jurisdictions that are dependent on the finite business of mineral extraction, states global engineering and infrastructure advisory firm Aurecon, an adviser to the African mining sector.

time-read
2 分  |
Mining Weekly 28 April 2017