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Strong recovery for 2nd half of 2020 sees Anglo American weather a tough year

25 February 2021 7:01 PM
Tags:
Mining
The Money Show
Anglo American
Mark Cutifani
Angloplats
Arabile Gumede
Natascha Viljoen
COVID-19

'I am immensely proud of how our team of more than 95,000 people across Anglo American pulled together' says CEO Mark Cutifani.

In 2020 we saw much of the world tested to its limits by Covid-19. I am immensely proud of how our team of more than 95,000 people across Anglo American pulled together to do what’s right for each other, for our many stakeholders across society and the business."

Mark Cutifani, CEO - Anglo American

Anglo American has posted its results for 2020, emphasizing the resilience of its diversified mining business.

In the first half, Anglo's EBITDA (earnings before interest, tax, depreciation and amortisation) dropped around 40% to R49 billion ($3.4 billion).

The second half of 2020 saw the miner's best performance for this period in the last decade.

© Michael Turner/123rf.com

Arabile Gumede interviews CEO Mark Cutifani about weathering the Covid storm, and Anglo's future plans.

We started off the year not as well as we'd like... but the [PGM. platinum group metals] prices have been great and the team's done a good job in getting the business back up...

Mark Cutifani, CEO - Anglo American

It's been a stellar year - I think it's a record financial performance for the AngloPlats [Anglo American Platinum] business...

Mark Cutifani, CEO - Anglo American

Cutifani balances this by saying Anglo's not out of the woods yet.

He expects that by the end of February, employees across all its operations will have been tested for Covid.

The mining giant will be focusing on incremental modernisation to boost productivity going forward.

Listen to the interview on The Money Show:


This article first appeared on CapeTalk : Strong recovery for 2nd half of 2020 sees Anglo American weather a tough year




25 February 2021 7:01 PM
Tags:
Mining
The Money Show
Anglo American
Mark Cutifani
Angloplats
Arabile Gumede
Natascha Viljoen
COVID-19

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