Anglo American Forecasts $300 Million-$400 Million Reduction in Ebitda for 2018
April 24 2018 - 1:59AM
Dow Jones News
By Oliver Griffin
Anglo American PLC (AAL.LN) said Tuesday that it expects
earnings before interest, taxes, depreciation and amortization for
2018 to be between $300 million and $400 million lower in 2018 due
to infestations and repairs halting operations at its Minas-Rio
iron ore operation in Brazil.
The mining company said it is progressing with an inspection of
its Minas-Rio operations, expected to take 90 days, and will be
followed by analysis and repair work. Mining operations will
restart when repair work is completed and the pipeline has been
tested.
Anglo American also said total production in the first-quarter
ended March 31 rose 4% on a copper equivalent basis, compared with
the year-earlier period.
Diamond production at the company's De Beers operations rose 15%
to 8.5 million carats, Anglo American said.
The mining company also said platinum production at its
majority-owned Anglo American Platinum Ltd. (AMS.JO) increased 7%
to 613,800 ounces during the quarter.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
April 24, 2018 02:44 ET (06:44 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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