Browsing: Anglo-American

The Anglo American's Corporate Office in Johannesburg in this April 9, 2015 photo by Waldo Swiegers. www.theexchange.africa

The company in 2021 generated profits or EBITDA in the region of US$ 20.6 billion from its specified businesses according to its website. For perspective, this EBITDA figure is about the size of the GDP of Zimbabwe. Shareholders of the company received US$ 6.2 billion in 2021. The strong financial showing according to the company was due to increased production which was up 5% year on year, stronger prices for its products and consequently much higher margins.

Cutifani stressed that the solid numbers produced by his company were not just good for shareholders but were good for all stakeholders and the communities where Anglo operates. The company paid US$ 7.1 billion in taxes in 2021. This number was 89% higher than the figure paid in 2020.

The EBITDA margin achieved in 2021 was 56% which was significantly higher than the 35% achieved the previous year. The high margins had a…

The company is part of the JSE listed industrial mining and metals sector which is collectively worth ZAR 5.46 trillion or (US$ 360.11 billion). It is the fifth-largest company in that sector. The company produces iron ore from two mines namely Sishen and Kolomela in South Africa.

Kumba Iron Ore’s finances during 2021 were premised on 3 things namely what the company described as “disciplined capital allocation” which involved the cash payouts to shareholders on the back of the improved return on capital ratios. The second aspect that drove the company’s financials was what it called “value-focused growth”. The company enjoyed a higher-than-average price for its ores.

It reportedly earned an average forward on board (FOB) export price of at least US$ 161 per ton which was 18% higher than the benchmark during 2021.…

The financial results of the company began with a report of the company’s ESG performance. What stood out the most from the company’s report is that the company achieved zero fatalities during its operations in 2021. This is most exceptional given the nature of mining operations which are for the most part dangerous.

Most if not all Anglo-Plat’s peers have reported reduced or reduced fatalities in their operations but not always a zero-fatality rate. This was attributable to what the company calls their Elimination of Fatalities (EoF) strategy. The strategy focuses on the most common causes of fatalities across Anglo American.

Its purpose is to use what the company calls “accumulated learnings from a wide range of fatalities” and use that data to take a more proactive approach to prevent incidents that result in the loss of life. The strategy has paid off resulting in an outlier performance of zero …

Zimbabwe has one of the most diverse mining sectors I have ever come across. The country’s soil is rich in elements such as platinum, coal, iron ore, gold, diamonds and most recently the prospect of oil and gas.

Despite its complex economic challenges, mining, along with agriculture, has been a key pillar supporting the country’s GDP. The sector is responsible for around 60% of Zimbabwe’s export earnings and remains as one of the main sources for the much welcome foreign currency inflow.

FurtherAfrica spoke to the Hon. Winston Chitando, Zimbabwe’s Minister of Mines and Mining Development for an open conversation about Zimbabwe’s mining sector, its challenges, new prospects and raising opportunities. Min. Chitando has a remarkable record in his country’s mining industry spanning well over 3 decades. Previous to his appointment as Zimbabwe’s Minister of Mines and Mining Development, he has held several different positions in major companies such as …