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Anglo American maintains strong performance despite Covid-19
StockMarketWire.com
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Anglo American maintained a strong performance during 2020 despite the challenges of Covid-19 and other operational impacts, with unit costs for the year down 2% despite lower total production volumes.
The company expects to deliver sector leading volume growth of 20 to 25% over the next three to five years that includes first copper production from Quellaveco in 2022.
Production in 2021 is expected to increase by 14%, with unit costs falling by a further 3%.
The company said it is delivering strong cash returns, with $5 billion returned to shareholders since 2017.
Mark Cutifani, chief executive of Anglo American, said: "Together with our P101 and technology improvement initiatives, we are on track to deliver our targeted $3 to $4 billion run-rate of incremental annual improvement by the end of 2022.
"Looking further out, our diversified portfolio of world-class competitive operations, development projects and undeveloped resources provide us with many further high quality and high returning growth options. With the bulk of those options in copper, PGMs, and now also crop nutrients, we are increasingly positioned to supply those metals and minerals that enable a cleaner, greener, more sustainable world."
At 1:13pm: (LON:AAL) Anglo American PLC share price was 0p at 2094p
Story provided by StockMarketWire.com
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