- Anglo American
- 30 July 2026 08:05:19
Source: Sharecast
The mining giant posted a $858m loss in the six months to June 30 compared with a loss of $1.88bn a year ago/ Anglo has already demerged its South African platinum business and is in the process of offloading coal, nickel and the De Beers diamond operation.
Meanwhile its $53bn merger with Teck is awaiting final approval from China.
Underlying core earnings rose $1.0bn to $4.0bn, helped by stronger realised copper prices, improved performance in manganese and the continued benefits of the 2025 run‑rate cost‑out programme. The group said these factors lifted the underlying EBITDA margin to 38%, from 32% a year earlier.
The improvement was partly offset by ongoing weak rough‑diamond trading conditions at De Beers, where market demand remained subdued. Anglo also pointed to lower sales volumes at Copper Chile, Copper Peru and Kumba, which weighed on earnings.
Foreign‑exchange movements and inflation added further pressure, with higher local‑currency costs in South Africa and Brazil affecting Premium Iron Ore and copper operations. Unit‑cost headwinds at Kumba and Minas‑Rio also contributed to the drag.
Anglo said the EBITDA outcome reflected both favourable price effects and disciplined cost control, with a reconciliation to the closest IFRS measure, profit before net finance costs and tax, provided in the financial statements.
Reporting by Frank Prenesti for Sharecast.com