Anglo American to deliver 35% growth over the next decade

Diversified miner Anglo American is set to deliver 35% growth over the next decade at an attractive 50% margin.
Group chief executive Mark Cutifani said they are also increasing their near-term performance improvement target to between $3.5 billion and $4.5 billion by 2023.
Anglo said it maintained strong performance during 2021 and expects further improvement next year.
It said 2021 production rose 7% driven by strong PGMs performance and higher rough diamond demand.
Meanwhile, group finance director Stephen Pearce said their balanced approach is supporting sequenced investment in value-accretive growth and considerable long term business improvement, alongside attractive shareholder returns.
“We have delivered $10.3 billion in cash returns to our shareholders since 2017 and $4 billion in the second half of 2021 alone,” he said.
“Our ongoing investment in the business also supports our emissions reduction objectives and we, therefore, expect our normal cycle of capital investment to continue to fund the majority of our operational decarbonisation projects."

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished