Our approach to mining
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A world-class portfolio
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Sustainability report 2019
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Take a tour of a modern mine
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2019 Annual Results
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The difference makers
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How to become a supplier
Main Content

Re-imagining mining to improve people’s lives

During 2019, we have built upon our turnaround of the previous three years, laying foundation for a further step-change in operational and financial performance. We are taking an innovative approach by combining technology, digitalisation and sustainability to re-imagine mining to improve people’s lives – for our employees, our stakeholders and for society as a whole.

Learn more about our 2019 performance in this reporting suite.

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Previous year: $27.6bn
Underlying EBITDA
Previous year: $9.2bn
Operating profit
Previous year: $6.1bn
Underlying earnings per share
Previous year: $2.55
Net debt
Previous year: $2.8bn
Total dividends per share
Previous year: $1.00
Attributable free cash flow
Previous year: $3.2bn
Group attributable ROCE
Previous year: 19%


Stuart Chambers


Stuart Chambers


Bsc, Chairman since November 2017; a non-executive director since September 2017, Age:


"As a major supplier of metals and minerals vital to the world’s transition to a more sustainable future, Anglo American has a special obligation to operate in a safe, responsible way so that our environmental and societal footprint is a positive one, both during the lifetime of our mines and beyond."

Download full Chairman's statement

Mark Cutifani

Chief executive

Mark Cutifani

Chief executive

BE (Mining Engineering), Chief Executive since April 2013, Age:


"Anglo American stands out as a performance leader in the mining industry – we have transformed our operations and delivered significant financial improvement, while building our sustainability credentials through improving safety and environmental performance and building social partnerships. Guided by our Purpose, it is our people whose efforts bring to life the quality of our assets and our business as a whole."

Download full Chief Executive's statement

Our strategy

We're a leading global mining company with a world-class portfolio of mining and processing operations and undeveloped resources. Our purpose is to re-imagine mining to improve people’s lives.

Our strategy is to secure, develop and operate a portfolio of high quality and long-life resource assets, from which we will deliver leading shareholder returns. We achieve this through innovative practices and technologies – in the hands of our world-class people – towards a common purpose.

Our portfolio

Minas-Rio’s remarkable recovery

Minas-Rio mine in Brazil taps into a large-scale iron ore deposit, the resource base of which we have steadily extended since acquiring the asset more than a decade ago. Current estimates indicate Ore Reserves of approximately 3.2 billion ROM tonnes at 33.5% Fe(1) – and indications are that this highly prospective area has considerably more potential.

Find out more about Minas-Rio

Operational highlights

De Beers

Anglo American owns 85% of De Beers, the world’s leading diamond company. The remaining 15% is owned by the Government of the Republic of Botswana (GRB). De Beers and its partners produce around one-third of the world’s rough diamonds, by value.

$558mn underlying EBITDA
6% Group underlying EBITDA
30.8 Mct production (100% basis)


From our three mining operations in Chile, we produce copper, essential to modern living and a future of clean energy and transport. Our products include copper concentrate, copper cathode and associated by-products such as molybdenum and silver. Our copper interests in Chile will soon be complemented by Quellaveco, which we are developing in Peru.

$1,618mn Underlying EBITDA
16% Group underlying EBITDA
638 kt production


Anglo American is a leading producer of PGMs, essential metals for cleaning vehicle exhaust emissions and as the catalyst in electric fuel cell technology. We own and operate three mining complexes in South Africa’s Bushveld complex, including Mogalakwena – the world’s largest open-pit PGMs mine, Amandelbult and Mototolo, as well as the Unki mine, in Zimbabwe. In South Africa, we also own smelting and refining operations which treat concentrates from our wholly owned mines, our joint venture operations and third parties.

$2,000mn Underlying EBITDA
20% Group underlying EBITDA
2,051 koz production [platinum]
1,386 koz production [pallladium]

Iron Ore

Anglo American’s iron ore operations provide customers with high grade iron ore products which help our steel customers meet ever-tighter emissions standards. In South Africa, we have a majority share (69.7%) share in Kumba Iron Ore, while in Brazil we have developed the integrated Minas-Rio operation.

$3,407mn Underlying EBITDA
34% Group underlying EBITDA
42.4 Mt production [Kumba]
23.1 Mt production [Minas-Rio]

Metallurgical Coal

Our high quality assets provide a reliable supply of niche products our wide range of customers need, in both metallurgical coal (for steelmaking) and thermal coal (for electricity generation). Our coal portfolio is geographically diverse, with metallurgical coal assets in Australia, and thermal coal assets in South Africa and Colombia.

$1,707mn Underlying EBITDA
17% Group underlying EBITDA
22.9 Mt production [metallurgical – export]

Thermal Coal

Our high quality assets provide a reliable supply of niche products our wide range of customers need, in both metallurgical coal (for steelmaking) and thermal coal (for electricity generation). Our coal portfolio is geographically diverse, with metallurgical coal assets in Australia, and thermal coal assets in South Africa and Colombia.

$125mn Underlying EBITDA
1% Group underlying EBITDA
26.4 Mt production [thermal – export]

Nickel and Manganese

The Nickel and Manganese operations both provide ingredients for stainless and alloy steels. They are located in Brazil (Nickel), as well as South Africa and Australia (Manganese).

$634mn Underlying EBITDA
6% Group underlying EBITDA
42.6 kt production [nickel]
3.7 Mt production [manganese ore]

Measuring the strategy

Safety and health
KPIs Target 2017 2018 2019
Number of work-related fatal injuries Zero Harm 9 5 4
Total recordable case frequency rate 15% year-on-year reduction 3.17 2.66 2.21
New cases of occupational disease Year-on-year reduction 96 101 39
KPIs Target 2017 2018 2019
Energy consumption 8% saving by 2020 97GJ 85GJ 87GJ
GHG emissions 22% saving by 2020 18.0 million tonnes 16.0 million tonnes 17.7 million tonnes
Total water withdrawals 14% by 2020 306 million m3 227 million m3 209 million m3
Number of level 3-5 environmental incidents Year-on-year reduction 2 6 0
KPIs Target Levels of compliance 2017 2018 2019
Social Way implementation Eliminate non-compliance Serious non-compliance (%) 1 0 0
Moderate non-compliance (%) 11 13 4
Compliant (%) 56 39 34
Good practice (%) 24 35 46
Best practice (%) 8 13 16
KPIs Measure 2017 2018 2019
Production volumes De Beers – million carats 33.5 35.3 30.8
Copper – thousand tonnes 579 668 638
Platinum – thousand ounces 2,397 2,485 2,051
Iron ore (Kumba) – million tonnes 45.0 43.1 42.4
Iron ore (Minas-Rio) – million tonnes (wet basis) 16.8 3.4 23.1
Metallurgical coal (Export coking and PCI) – million tonnes 19.7 21.8 22.9
Thermal coal (Export) – million tonnes 29.2 28.6 26.4
Nickel – thousand tonnes 43.8 42.3 42.6
KPIs Measure 2017 2018 2019
Unit cost of production De Beers – $/carat 63 60 63
Copper – C1 unit cost, c/lb 147 134 126
Platinum – $/ounce 1,443 1,561 1,543
Iron ore (Kumba Iron Ore) – $/tonne 31 32 33
Iron Ore (Minas-Rio) – $/tonne (wet basis) 30 n/a 21
Coal – South Africa – $/tonne 44 44 45
Nickel – C1 unit cost, c/lb 365 361 380
KPIs Measure 2017 2018 2019
Attributable return on capital employed (ROCE) Group attributable ROCE (%) 19 19 19
Underlying earnings per share (EPS) Group underlying EPS ($) 2.57 2.55 2.75
Attributable free cash flow Group attributable free cash flow ($ million) 4,943 3,157 2,324
KPIs Measure 2017 2018 2019
Voluntary labour turnover % of total permanent employees 2.3 2.4 2.3
Gender diversity - management Women as a percentage of management (%) 26 28 24
Gender diversity - total workforce Women as a percentage of total workforce (%) 19 20 21
South Africa transformation Historically disadvantaged South Africans as a percentage of management (%) 66 65 65

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