Anglo still catching the crowd

Anglo still catching the crowd

Anglo American’s (AAL) half-year results for 2019 show the timeliness of the restart of the Minas-Rio iron ore mine in Brazil. Cash profits, return on capital employed and revenue all grew year on year, and chief executive Mark Cutifani said it was the best half the company has had since 2011. This was down to “good prices and solid cost control”, Mr Cutifani said. The average realised free on board (FOB) iron ore price for the period was $108 a tonne, up from $69 a tonne last year. Underlying cash profits climbed 19 per cent to $5.45bn (£4.37bn) in the six months to 30 June. 

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