Anglo American Expects Costs to Rise Again in 2022
10 Dezembro 2021 - 4:46AM
Dow Jones News
By Jaime Llinares Taboada
Anglo American PLC expects costs to increase further in 2022 and
reaffirmed its full-year guidance for 2021.
The FTSE 100 mining company said Friday that it expects unit
costs to increase by 4% next year, after rising 10% on a
currency-neutral basis in 2021 due to inflation and production
slowdowns.
In addition, Anglo American anticipated a production increase of
7% for 2021 on the back of strong platinum group metals performance
and higher demand for rough diamonds.
As for capital expenditure, the group forecast it will increase
to $6.2 billion-$6.7 billion next year from $5.2 billion in 2021,
when Covid-19 delays and supply-chain disruptions slowed some
projects.
"Anglo American is a resilient and agile business that is set to
deliver 35% growth over the next decade at an attractive 50%
margin. We are also increasing our near-term performance
improvement target to $3.5 billion-$4.5 billion by 2023, as we
accelerate the delivery of our P101 and technology programs, while
also bringing growth projects onstream," Chief Executive Mark
Cutifani added.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
December 10, 2021 02:31 ET (07:31 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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