Anglo American’s 2019 profit climbs 9% on higher iron ore, precious metal prices


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Anglo American’s 2019 profit climbs 9% on higher iron ore, precious metal prices

Later last week, the British multinational mining company, Anglo American Plc. with headquarters in Johannesburg and London, had reported its full-year earnings’ report for 2019 which had insanely beaten an analysts’ estimate and mounted as much as 9 per cent on an annualized basis, as a multi-year high futures’ prices of iron ore alongside other precious metals including gold had eased growing weakness in the diamond and coal industry.

Apart from that, according to the Johannesburg-based British multinational mining company’s full-year earnings’ report for 2019 that released late on Thursday (February 20th), the mining industry mogul’s net earnings excluding interest, taxation, amortisation and depreciation rose to $10 billion from a prior figure of $9.16 billion a year earlier, which had also beaten an analysts’ estimate of $9.97 billion as beforementioned, IBES data from Refinitiv had revealed.

On top of that, following reveal of its annual financial statement, the mining industry behemoth had announced a final dividend of $0.47 per share, which in effect would sum up total dividends for 2019 to $1.09 per share compared to a $1 paid off a year earlier.

Meanwhile, referring to Anglo American’s meteoric growth in operating profits and revenues, the company Chief Executive, Mark Cutifani said in a post earnings’ call with the reporters on Thursday (February 20th), “We have also benefited from product and market diversification, with strong precious metals and iron ore prices offsetting weakness in diamonds and coal. ”