Anglo American Sees 2018 Production Ahead of Guidance, Costs Below
December 11 2018 - 6:13AM
Dow Jones News
By Adria Calatayud
Anglo American PLC (AAL.LN) said Tuesday that it anticipates
2018 production to be 2% ahead of previous guidance and costs to be
5% below.
Production is expected to increase by 3% in 2019, with cost
inflation fully absorbed by productivity and cost improvements, the
FTSE 100 mining company said. The company forecasts a further 5%
production increase in both 2020 and 2021, it said.
The company said it continues to target $3 billion to $4 billion
of incremental annual earnings before interest, taxes,
depreciation, and amortization by 2022.
Anglo American said it is now well positioned to drive enhanced
returns through capital allocation options, after reducing net debt
by more than $9 billion over the last three years.
Shares at 1139 GMT were up 3.2% at 1,625.60 pence.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
December 11, 2018 06:58 ET (11:58 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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