[SMM results] Anglo American net profit increased by 12 per cent in 2018, manganese production increased by 3 per cent compared with the same period last year

Published: Feb 27, 2019 14:31

Source: Shanghai Nonferrous Metals Network

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(Anglo American: Anglo American)

SMM2, 27 Feb: Anglo American released its 2018 financial report, basic EBITDA (profit before tax, interest, depreciation and amortization) increased further by 4% to US $9.2 billion, and profit attributable to shareholders increased by 12% to US $3.5 billion. Net debt fell to $2.8 billion, down 37 per cent from 2017. Mark Cutifani, chief executive of Anglo American, said the strong financial results were due to continued productivity gains in our underlying business and higher-than-expected prices for many of our products.

Financial position of the company: (unless otherwise stated, in millions of dollars)

As a result of Barro Alto's planned 40-day maintenance shutdown, nickel production was reduced by 3 per cent to 42300 tons (2017: 43400 tons). Manganese ore production increased by 3 per cent to 3.6 million tons (2017: 3.5 million tons), reflecting the availability of concentrators and improved weather conditions at Australian mines.

Subhead EBITDA (profits before tax, interest, depreciation and amortization)

Financial operating indicators of nickel and manganese

Note: (1) the production and sales of nickel are tons. Samancor produces and sells millions of tons of (Mt). (2) realize the price. (3) C1 unit cost. (IV) the nickel segment includes $8 million in project and enterprise costs (2017: $8 million). (v) production, sales and finance include ores and alloys.

Samancor

Financial and operational Overview: the related EBITDA grew by 25 per cent to $663 million (2017: $529 million), driven mainly by continued improvement in manganese mine prices.

Operational performance: attributable manganese ore production increased by 3 per cent to 3.6 million tons (2017: 3.5 million tons). Production in Australia increased by 10 per cent as a result of improved availability of concentrators, more favourable weather conditions and increased production of quality concentrate (PC02). Ore production in South Africa decreased by 6 per cent as the increase in quality materials was offset by a decrease in fine-grain secondary products. Manganese production increased by 5 per cent to 157000 tons (2017: 149000 tons), mainly due to increased stability in Australia for most of the year. In South Africa, manganese production has increased by 6%, continuing to use only one of the four furnaces in the operation.

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Manganese Anglo American Resources Mining production capacity

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