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JOHANNESBURG, Jan 25 (Reuters) - South Africa's Anglo American Platinum Ltd (Amplats) on Monday flagged a sharp fall in full-year earnings due to impairments, write-downs and restructuring costs in bid to survive plunging in commodity prices. Headline earnings per share, the main gauge of profit that strips off certain one-off items, is expected to be down to between 25 cents and 55 cents compared with earnings of 301 cents a year earlier. Amplats, a division of Anglo American Plc, is undergoing tough cost cutting to deal with plunging prices and low demand for its precious metals and the effects of a crippling five-month strike in 2014 at its biggest operation. The top platinum producer said the fall in profits was due to efforts to make the business more efficient, cash generative and lean by reorganising operations and structure. Anglo American, the world's fifth-biggest miner by market value, is on a drive to sell more assets and whittle its business down to three divisions to cope with sharp fall in commodity prices. Amplats said headline earnings per share would have risen to 412 cents if it had excluded the impact of the restructuring costs, a loan to its joint-venture partner Atlatsa and the increase in inventory. (Reporting by Zandi Shabalala; Editing by Gopakumar Warrier)
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Anglo American plc
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PRODUCER |
CODE : AAL.L |
ISIN : GB00B1XZS820 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anglo American is a nickel and zinc producing company based in United kingdom. Anglo American produces nickel, zinc, chromium, copper, gold, manganese, molybdenum, platinum, silver, uranium and zircon in Australia, in Brazil, in Canada, in Chile, in Namibia, in Peru, in South Africa and in Venezuela, develops coal, copper, gold and molybdenum in South Africa, and holds various exploration projects in Brazil. Its main assets in production are RUSTENBURG SECTION, MAMATWAN, MPONENG (WESTERN DEEP NO. 1 SHAFT), TAUTONA (WESTERN DEEP NO.3 SHAFT), MARIKANA, WESSELS and PALABORA MINE AND SMELTER in South Africa, COLLAHUASI MINE, MANTOS BLANCOS and MARICUNGA in Chile, CODEMIN in Brazil, NAVACHAB MINE and SKORPION MINE in Namibia, LOMA DE NIQUEL in Venezuela, GEMCO in Australia, QUELLAVECO in Peru and CALLINAN MINE in Canada, its main assets in development are ZONDAGSFONTEIN and PEBBLE in South Africa and its main exploration properties are LISHEEN and RATHDOWNEY TREND / MOATE in Ireland, SAN FERNANDO and PINABETE in Mexico, 777 PROJECT, BAY PAINE, NUVILIK, MUSKOX, RIVER VALLEY, RAGLAN / BELANGER and WEST RAGLAN in Canada, BOYONGAN (NORTH) in Philippines, RAKKURIJARVI in Sweden, ATASPACA and ANTAY in Peru, KOLWEZI in Congo Dem. Rep. of, SALOBO and ARIPUANA / AREX in Brazil, PLATREEF and SPITZKOP ZINC in South Africa and ZAMBEZI in Zambia. Anglo American is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 3 062.5 billions as of today (US$ 3 564.4 billions, € 3 348.4 billions). Its stock quote reached its lowest recent point on May 12, 2017 at GBX 1 001.00, and its highest recent level on April 19, 2024 at GBX 2 179.00. Anglo American has 1 405 465 000 shares outstanding. |