| Anglo American PLC (GB00BTK05J60) | |||
22,44 GBXStand (close): 03.07.25 |
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| Datum / Uhrzeit | Titel | Bewertung |
| 09.04.25 05:03:00 | Peabody Reviews $3.78 Billion Anglo American Coal Deal After Mine Fire |  |
| Peabody Energy said it is reviewing an up to $3.78 billion deal to buy Anglo American’s steelmaking coal operations following a fire at an Australian mine. Continue Reading View Comments |
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| 04.04.25 11:37:45 | Miners, Carmakers, Gadgets: How Tariff Fears Are Hitting Stock Markets Friday | |
| Here are some notable stock-market moves around the world, as investors continued to grapple with the implications of President Trump’s sweeping tariffs. Miners are being hit by fears a possible global economic downturn will hit demand for raw materials. Shares of Glencore, one of the world’s largest producers of copper, was down 10% in London after trading Friday. Continue Reading View Comments |
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| 04.04.25 07:44:49 | FTSE 100 LIVE: Trillions wiped off global stock markets as Trump's tariffs unleash chaos | |
| The FTSE 100 (^FTSE) and European stocks extended the previous day's losses as markets opened on Friday, ending a week of bloodletting following president Donald Trump's announcement of a global shakeup in how the US organises trade. Trump said on Wednesday the US will place effective tariff rates at their highest level in more than 100 years. On Thursday, stocks saw their worst one-day sell off since 2020, wiping out around $2.5trn. The US president, speaking to reporters aboard Air Force One, said the rollout of his tariffs is "going very well", adding that he is open to "phenomenal" offers from countries to negotiate down the new rates. On Thursday, the UK government published a list of products it could plan to slap retaliatory tariffs on, in a sign it's potentially prepared to take a tougher stance than it has. The latest US tariffs came out at 10% for UK imports to the US, a better result than the likes of the EU, which is negotiating a 20% increase. The FTSE 100 (^FTSE) fell 0.9% at the opening bell. It's now on track for a weekly loss of around 2.9%. Top fallers in the index include banking stocks and miners. Standard Chartered (STAN.L), Barclays (BARC.L), Natwest (NWG.L) and HSBC (HSBA.L) were all more than 2.9% lower. Glencore (GLEN.L), Antofagasta (ANTO.L) and Anglo American (AAL.L) also sat around the bottom of the index. Germany's DAX (^GDAXI) lost 0.4%, while the CAC 40 (^FCHI) in Paris dropped 0.7%. The pan-European STOXX 600 (^STOXX) dipped 1.1%. FTSE Index - Delayed Quote•USD (^FTSE) Follow View Quote Details 8,410.15 - (-0.76%) As of 8:31:22 AM GMT+1. Market Open. ^FTSE^GDAXI ^FCHI Advanced ChartLIVE3 updates 20 mins ago Lucy Harley-McKeown US stock futures look to extend losses US stock futures dipped after President Trump's announcement of broad reciprocal tariffs sent markets into a tailspin. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq Composite (NQ=F) fell 0.2%. CME - Delayed Quote•USD (ES=F) Follow View Quote Details 5,408.75 - (-0.44%) As of 3:36:22 AM EDT. Market Open. ES=FYM=F NQ=F Advanced Chart 32 mins ago Lucy Harley-McKeown Tariff recap Here's what was announced by the way of higher duties: 12:43 34 mins ago Lucy Harley-McKeown Good morning! Hello from London. There's been chaos in the markets overnight as traders grapple with the potential economic impacts of tariffs. Otherwise there's not much on the slate today in the way pf economic releases other than UK construction PMI releases and US jobs data. Let's get to it. Download the Yahoo Finance app, available for Apple and Android. View Comments |
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| 25.03.25 16:51:00 | Anglo Starts Talks With Banks on Possible De Beers IPO | |
| (Bloomberg) -- Anglo American Plc has begun initial talks with banks about listing its De Beers diamond unit, according to people familiar with the matter, as the company looks to move ahead with the final and most difficult piece of its radical restructuring. Most Read from Bloomberg They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? Chicago Transit Faces ‘Doomsday Scenario,’ Regional Agency Says Trump Slashed International Aid. Geneva Is Feeling the Impact. Paris Votes to Make 500 More Streets Car-Free Anglo is pursuing a dual-track process in its effort to exit De Beers by trying to find a buyer for the struggling business, while also starting preparations for an initial public offering as a backup solution. Anglo promised investors last year it would get out of the diamond business, as part of a sweeping overhaul outlined by Chief Executive Officer Duncan Wanblad as he fended off a $49 billion approach from BHP Group. The company has since agreed to sell its coal and nickel mines and is on course to exit platinum later this year — leaving only De Beers on the list. Anglo has now started started engaging with major banks about working on a De Beers public listing, said the people, who asked not to be identified discussing private information. A spokesman for Anglo American declined to comment. An exit from De Beers is proving to be the hardest part of Anglo’s restructuring. The diamond industry is grappling with its deepest crisis in decades and a collapse in Chinese demand and fierce competition from synthetic stones has hammered De Beers’s profits in recent years. Read: Crisis at De Beers Is a Warning for $80 Billion Diamond Market Anglo recently took a $2.9 billion impairment on the value of De Beers, after last year announcing a $1.6 billion writedown. Wanblad has emphasized that the company is not in a rush to find a solution for De Beers, as it doesn’t want to destroy value by moving too quickly while the market remains weak. In February, he said Anglo didn’t expect much progress in exiting the business in the first half of 2025, but hoped its plans to exit would accelerate later in the year. Most Read from Bloomberg Businessweek Google Is Searching for an Answer to ChatGPT The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? Business Schools Are Back A New ‘China Shock’ Is Destroying Jobs Around the World How TD Became America’s Most Convenient Bank for Money Launderers ©2025 Bloomberg L.P. View Comments |
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| 25.03.25 08:35:24 | FTSE 100 LIVE: Stocks start strong despite fresh Trump tariff threats | |
| The FTSE 100 (^FTSE) and European markets ticked higher at the opening bell, even as president Donald Trump rolled out fresh threats on trade, promising what he called "secondary tariffs" on countries that buy oil from Venezuela. Purchasing oil and gas from Venezuela could mean the imposition of a 25% levy on trade with the US, the president said in a post on Truth Social, which was followed by an executive order. The consequences of the order could be wide-ranging. Spain, India and the US trade oil with Venezuela, while some of its stock is sold on the black market, according to a Bloomberg report. The FTSE 100 (^FTSE) rose 0.4% after the opening bell. The top gainers were housebuilding stocks after a pledge by the UK Treasury to invest £2bn in social and affordable housing in places like Manchester and Liverpool. Persimmon (PSN.L) was the top FTSE gainer after the opening, up 2%, while Barratt Redrow (BTRW.L) and Taylor Wimpey (TW.L) added 1.7% and 1.6% respectively. The DAX (^GDAXI) in Germany gained 0.1% and the CAC 40 (^FCHI) in Paris was 0.5% higher. The pan-European STOXX 600 (^STOXX) rose 0.4%. FTSE Index - Delayed Quote•USD (^FTSE) Follow View Quote Details 8,667.23 - +(0.34%) As of 8:23:40 AM GMT. Market Open. ^FTSE^GDAXI ^FCHI Advanced ChartLIVE4 updates 29 mins ago Lucy Harley-McKeown Kingfisher pops at the open following results The B&Q owner's stock headed around 1.2% higher as markets opened in London following a solid quarterly report. Chris Beauchamp, chief market analyst at IG, said: 34 mins ago Lucy Harley-McKeown Here's that US stock future chart CME - Delayed Quote•USD (ES=F) Follow View Quote Details 5,805.00 - (-0.18%) As of 4:28:39 AM EDT. Market Open. ES=FYM=F NQ=F Advanced Chart 34 mins ago Lucy Harley-McKeown US stock futures slip Our US team writes: US stock futures wavered Monday night after a solid day in the green for the major gauges, bolstered by optimism that President Trump would temper his plans for reciprocal tariffs. Futures attached to the benchmark S&P 500 (ES=F), the Nasdaq Composite (NQ=F), and the Dow Jones Industrial Average (YM=F) all slipped about 0.1%. Stocks soared on Monday, with all three major averages gaining over 1%. Market optimism has followed signals that the Trump administration may scale back the upcoming tariffs set for April 2. On Monday, the president said he “may give a lot of countries breaks." At the same time, though, he said tariffs on pharmaceutical and autos sectors are still due for the "near future." On Monday, tech stocks drove an AI-led rally, as Nvidia (NVDA), Meta (META), and Jack Ma's Ant Group begin to rebuild positive sentiment in the rocky sector. 37 mins ago Lucy Harley-McKeown Good morning! Hello from London. Lucy Harley-McKeown here, poised to bring you the business and markets news of the day. Today a clutch of companies are reporting, including: B&Q owner Kingfisher (KGF.L) — full-year Housebuilder Bellway (BWY.L) — full-year Tonic-maker Fevertree (FEVR.L) — full-year Memestock Gamestop (GME) — quarterly New Japanese inflation data also came out today. The Ifo German economic survey is due at 10.30am CET. Let's get to it. Download the Yahoo Finance app, available for Apple and Android. View Comments |
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| 24.03.25 10:23:40 | Trending tickers: 23andme, Coinbase, RWE, Anglo American | |
| 23andMe (ME) DNA testing services provider 23andMe filed for Chapter 11 bankruptcy on Sunday, and said its CEO Anne Wojcicki would resign from that role but remain on the board. The company previously rejected co-founder Wojcicki's proposal to buy back the business, which has floundered in recent months. Joe Selsavage, chief financial and accounting officer, will act as interim CEO. Chapter 11 bankruptcies typically mean a company can continue operating, while restructuring debts and developing a plan to repay its creditors. “We expect the court-supervised process will advance our efforts to address the operational and financial challenges we face, including further cost reductions and the resolution of legal and leasehold liabilities,” said Mark Jensen, chair and member of the special committee of the board of directors. The company's share price was almost 40% lower in premarket trade on Monday. NasdaqCM - Delayed Quote•USD (ME) Follow View Quote Details 1.7900 - +(1.70%) At close: March 21 at 4:00:02 PM EDT Advanced Chart Coinbase (COIN) Crypto stocks and bitcoin headed higher on Monday, with exchange Coinbase rallying 4.1% in premarket. Analysts speculated that bitcoin had reached its "bottom", as it rallied 3.5%, past the $87,300 mark. In December, bitcoin traded as high as $103,332. Typically a rally in digital coin prices also lifts crypto companies and sentiment in the rest of the market. Crypto asset manager Microstrategy (MSTR) rose 5.2% ahead of the market open. "No clear catalyst exists for an immediate parabolic rally; the risk-reward dynamic is shifting as selling pressure fades — something easily overlooked without closely monitoring daily developments," said Markus Thielen, founder of 10x Research. "Bitcoin ETF inflows resumed last week following a $10 billion drop in open interest in BTC CME futures since the December FOMC meeting. With funding rates hovering near zero, these ETF inflows likely represent long-only capital that tends to be more stable." RWE (RWE.DE) German utility company RWE became the latest target of activist investor Elliot, following its push at oil major BP (BP.L). “RWE is already proceeding with actions that might typically be at the top of an activist’s wish list, namely cutting capital expenditure on green technologies," said Russ Mould, investment director at AJ Bell. "Therefore, Elliott has moved to the next obvious way to breath more life into the share price – calling for faster and greater share buybacks. “The activist’s latest trades are united by one thing – backing a reversal in the energy transition. Elliott has put pressure on BP to focus more on oil and gas. Story Continues "It supports RWE’s strategic shift and clearly sees buybacks as an easy way to drive an even bigger re-rating in the share price than the one we’ve seen in recent week, and it has also taken a bet against French oil producer group TotalEnergies.” Anglo American (AAL.L) Mining stocks got off to a strong start to the week, topping the FTSE 100 (^FTSE) at the opening on Monday, buoyed by an uplift in commodity prices. Copper prices traded near all-time highs during the session, up 1.3% amid expectations of a supply crunch. Anglo American stock rose 3.5% in early trade, while Antofagasta (ANTO.L) rallied 2.9%. Rio Tinto (RIO.L) and Glencore (GLEN.L) gained 2.6% and 2.3% respectively. Companies reporting this week: Company reports on Tuesday: Travis Perkins (TPK.L) Bellway (BWY.L) Gamestop (GME) Ocado (OCDO.L) Download the Yahoo Finance app, available for Apple and Android. View Comments |
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| 18.03.25 09:21:18 | FTSE 100 LIVE: London markets rise as Israeli air strikes kill 330, ending Gaza truce | |
| The FTSE 100 and European stocks ticked upwards on Tuesday, as tensions flare again in the Middle East and traders look to central bank meetings later in the week. On Tuesday morning, the Hamas-run health ministry said that 330 people were killed overnight in air strikes by Israeli forces. The strikes effectively end a ceasefire which came into effect on 19 January. It came after talks to extend the ceasefire failed to reach an agreement. Commodity-related stocks, oil prices and gold are rallying in response. The FTSE 100 (^FTSE) rose 0.4% after the opening bell in London. Among top gainers were miners Anglo American (AAL.L), Antofagasta (ANTO.L) and Glencore (GLEN.L), as well as oil major BP (BP.L). Germany's DAX (^GDAXI) rose 0.8% ahead of the country's ZEW economic data release. The CAC 40 (^FCHI) in Paris ticked up 0.4%, while the pan-European STOXX 600 (^STOXX) rose 0.5%. US stock futures fell slightly, as traders look to the two-day Federal Reserve rate-setting meeting, which commences today. The Bank of England's monetary policy committee also meets this week, with announcements on the rate path due on Thursday. FTSE Index - Delayed Quote•USD (^FTSE) Follow View Quote Details 8,720.73 - +(0.47%) As of 9:07:18 AM GMT. Market Open. ^FTSE^GDAXI ^FCHI Advanced ChartLIVE7 updates 40 mins ago Lucy Harley-McKeown China's growth push China announced a plan to "boost consumption" over the weekend. Neil Wilson, analyst at TipRanks, breaks it down: Today at 8:21 AM UTC Lucy Harley-McKeown Nvidia stock futures push higher in premarket Nvidia stock futures are currently up around 0.7% ahead of the GTC. Today at 8:20 AM UTC Lucy Harley-McKeown What to watch at Nvidia's GTC conference Our US team writes: Nvidia (NVDA) kicks off its annual GTC conference on March 18 with a keynote by CEO Jensen Huang from the SAP Center in San Jose, Calif. The event, which runs through March 21, will feature workshops and training for developers and engineers, panels and discussions related to AI and robotics, and exhibits from companies showing off how they're using Nvidia's products in the real world. Huang is expected to debut the company's latest flagship AI chip: the Blackwell Ultra. A souped-up version of Nvidia's existing Blackwell chip, Blackwell Ultra should get a performance boost over last year's chip to further speed up training and running AI models. We should also learn more about Nvidia's next-generation GPU platform, dubbed Rubin, and the successor to its Grace line of CPUs, Vera. The combined superchip will be called Vera Rubin, named for the American astronomer, and will take the place of the current Grace Blackwell superchip at the top of Nvidia's hierarchy of AI processors. During Nvidia's fourth quarter earnings call, Huang teased that he'd also discuss the follow-up to Rubin. Nvidia, like most chip companies, is known for providing a broad look at its roadmap to help customers and developers prepare for their upcoming products. Read more on Yahoo Finance Today at 8:17 AM UTC Lucy Harley-McKeown Gold heads above $3,000 Gold (GC=F) continues to hover around the $3,000 all-time high. Haven demand continues to be pushed worldwide as market volatility rattles investors. It hit its stride in early trade, eheading 0.7% higher. Bloomberg reported: COMEX - Delayed Quote•USD (GC=F) Follow View Quote Details 3,034.30 - +(0.94%) As of 5:12:14 AM EDT. Market Open. Advanced Chart Today at 8:14 AM UTC Lucy Harley-McKeown Here's the US stock futures chart CME - Delayed Quote•USD (ES=F) Follow View Quote Details 5,679.50 - (-0.01%) As of 5:12:15 AM EDT. Market Open. ES=FYM=F NQ=F Advanced Chart Today at 8:13 AM UTC Lucy Harley-McKeown US stock futures dip as Fed kicks off two-day policy meeting From our US team: US stock future slide after Wall Street digested a second day of gains and braced for the Federal Reserve's next policy meeting. Futures attached to the Dow Jones Industrial Average (YM=F) fell 0.2%, the benchmark S&P 500 (ES=F) slid 0.3%, and the tech-heavy Nasdaq Composite (NQ=F) slumped 0.5%. On Monday, stocks continued to recover from last week's sell-off, which saw the S&P 500 enter correction territory amid concerns about the US economy's ability to sustain President Donald Trump's trade war. Wall Street's attention is now turning to the Federal Reserve's two-day policy meeting, which kicks off on Tuesday. The central bank will announce its next monetary policy decision Wednesday. Federal Reserve Chair Jerome Powell has said that the central bank will exercise caution when it comes to rate cuts and seek out more economic data. The Fed is largely expected to hold rates steady this week. Today at 8:11 AM UTC Lucy Harley-McKeown Food morning! Hello from London. Lucy Harley-McKeown here, ready to bring you the latest business news and updates on what's moving markets. This morning there'll be UK consumer price updates, as well as new information about what's changed in the way the ONS calculates price rises for goods. Today will also bring the German ZEW economic survey and data on US housing. Let's get to it. View Comments |
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| 13.03.25 16:12:02 | Anglo American begins consultation to cut jobs amid business overhaul | |
| (Reuters) -Anglo American has begun a consultation process in the United Kingdom and South Africa to cut jobs, amid a broader restructuring aimed at refocusing its operations on copper and iron ore mining, a spokesperson said on Thursday. As part of the strategic overhaul, the company is set to spin off its Anglo American Platinum unit by mid-year. It also sold its coal and nickel assets and plans to divest its De Beers diamond unit. Bloomberg News earlier in the day reported that Anglo was planning to cut more jobs at its corporate office. The company has sent notices to employees who are likely to be affected, the report added, citing people with knowledge of the matter. "These are clearly significant changes to our global business that naturally require adjustment to the resourcing of our corporate offices, so we are beginning consultation processes in the UK and South Africa to discuss proposed organisational changes," a company spokesperson told Reuters in an email. Anglo American has about 55,000 employees across the globe, according to its 2024 annual report. (Reporting by Shanima A and Prerna Bedi, additional reporting by Dhanush Vignesh Babu in Bengaluru; Editing by Devika Syamnath) |
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| 21.02.25 07:02:22 | Anglo American PLC (AAUKF) Full Year 2024 Earnings Call Highlights: Strategic Moves and ... | |
| EBITDA Margin: Stable at 30% despite a 10% fall in basket price. Full Year EBITDA: $8.5 billion. Cost Savings: Achieved $1 billion in 2024, with a run rate of $1.3 billion, aiming for $1.8 billion by end of 2025. Net Debt: Maintained flat at $10.6 billion. Net Debt to EBITDA Ratio: 1.3 times. Final Dividend: $0.22 per share, total 2024 dividend $0.64 per share. Revenue: 12% lower, driven by a 10% reduction in basket price. Cash Conversion: 97% with a $1.8 billion working capital inflow. Production Guidance: Met 2024 guidance across all businesses. Iron Ore EBITDA Margin: 40%. Copper EBITDA Margin: 50%. De Beers Impairment: $2.9 billion due to market outlook adjustments. Nickel Business Sale: Agreed for up to $500 million. Steelmaking Coal Sale: Agreed for up to $4.8 billion. Platinum Group Metals (PGM) Demerger: On track for mid-2025, with a 19.9% stake retained initially. Effective Tax Rate: 41% for 2024. Production Costs: 21% decrease in total operating costs across copper assets in Chile. Warning! GuruFocus has detected 2 Warning Sign with JSE:AIP. Release Date: February 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Anglo American PLC (AAUKF) maintained a stable EBITDA margin of 30% despite a 10% drop in basket prices, demonstrating effective cost management. The company achieved $1 billion in cost savings in 2024, with a run rate of $1.3 billion, ahead of schedule, and is on track to reach $1.8 billion by the end of 2025. Anglo American PLC (AAUKF) successfully simplified its portfolio, including the sale of its steelmaking coal business for up to $4.8 billion and its nickel business for up to $500 million. The company announced a strategic partnership with Codelco to develop a joint mine plan for Los Bronces and Andina, expected to create at least $5 billion in pretax value without significant capital expenditure. Anglo American PLC (AAUKF) maintained net debt flat at $10.6 billion despite lower commodity prices, reflecting strong cash management and financial discipline. Negative Points The company reported three workplace fatalities in 2024, highlighting ongoing safety challenges. Anglo American PLC (AAUKF) faced a challenging diamond market, with De Beers experiencing a significant decline in rough diamond sales due to high midstream inventory levels and weak consumer demand in China. The company recorded a $2.9 billion impairment at De Beers, reflecting a slower recovery in China and increased competition from lab-grown diamonds. Production was 7% lower year-on-year, largely due to the Grosvenor fire and actions at De Beers to focus on value over volume. The company faces ongoing challenges in the nickel market, with the sale of its nickel assets occurring in a tough market environment. Story Continues Q & A Highlights Q: How long have you been working on the deal in Chile with Codelco, and do you have the legal structure in place given constitutional restrictions? A: Duncan Wanblad, CEO, explained that discussions with Codelco began around 2012. The arrangement has been carefully structured to comply with Chile's constitutional restrictions, ensuring no negative impact on resource ownership. The MOU is innovative and legally sound. Q: Are there further opportunities for cooperation between Anglo American and Codelco? A: Duncan Wanblad, CEO, mentioned that while there are no current plans, Codelco is a good partner, and future cooperation could be possible if opportunities arise. Q: With the Los Bronces and Andina collaboration, what are the moving parts to utilize material between the two concentrators, and is the Los Bronces underground project being pushed back? A: Duncan Wanblad, CEO, stated that the collaboration naturally pushes back the Los Bronces underground project due to the value of the copper in the wedge and the efficiencies of the joint mine plan. The project can be adjusted based on copper prices, and real copper production is expected around 2030. Q: Given the strong working capital and cost-cutting performance in 2024, is there a concern that this could reverse as pressure eases? A: Duncan Wanblad, CEO, and John Heasley, CFO, expressed confidence that the focus on cost efficiency is now embedded in the company's culture, and they do not expect it to unravel. The working capital is at an appropriate level, and they anticipate it will remain stable. Q: Can you share any insights on the De Beers separation process, and are you leaning towards a trade sale or demerger? A: Duncan Wanblad, CEO, stated that they are pursuing a dual-track approach, preparing for both a trade sale and a demerger. The preference is for a trade sale to the right buyer, but they are prepared for either outcome depending on market conditions. Q: What is the update on the Quellaveco mine plan and production guidance changes? A: Duncan Wanblad, CEO, clarified that Quellaveco is expected to produce around 300,000 tonnes per annum on average, with some years slightly higher. The production guidance reflects the re-sequencing of the mine plan. Q: Regarding the Andina JV proposal, will Anglo American Sur move towards equity consolidation once the JV is set up? A: John Heasley, CFO, confirmed that there will be no change to the legal ownership structure, and Anglo American will continue to fully consolidate Anglo American Sur. Q: Is there any update on the potential for a similar transaction to the Los Bronces-Andina collaboration with Minas-Rio and Serpentina? A: Duncan Wanblad, CEO, mentioned that while there is no material progress to report, the benefits of combining resources at Minas-Rio and Serpentina are being explored, with potential for increased production and cost benefits. Q: How is the progress on Woodsmith through the sandstone layer, and what are the expectations for CapEx per meter? A: Duncan Wanblad, CEO, stated that they are cautiously optimistic about the progress through the sandstone, with current penetration rates meeting or exceeding baseline expectations. The focus is on managing water ingress and optimizing cutterhead design. Q: With the restructuring, does Anglo American see itself as a copper company or a diversified miner? A: Duncan Wanblad, CEO, emphasized that Anglo American remains a diversified miner with a focus on copper, iron ore, and crop nutrients. The expectation is to trade closer to a copper multiple, reflecting the significant copper component in the portfolio. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. View Comments |
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| 20.02.25 07:07:34 | Anglo American Takes Another De Beers Writedown, Profit Slides | |
| (Bloomberg) -- Anglo American Plc took another writedown on its struggling De Beers diamond unit, and posted a slide in profit, as the miner moves ahead with a radical overhaul of its business. Most Read from Bloomberg Trump to Halt NY Congestion Pricing by Terminating Approval Sorry, Kids: Disney’s New York Headquarters Is for Grown-Ups Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Child Migrant Watchdog Gutted in DOGE Cuts Chicago Council Delays $830 Million Bond Vote Amid Scrutiny Last year Anglo, in the process of fending off a $49 billion approach from BHP Group, announced a restructuring that would leave its business focused on iron ore and copper. So far the plan has gone well. Anglo has agreed to sell its coal and nickel mines and is on course to exit platinum later this year. That just leaves De Beers to go. Yet the diamond industry is in the midst of a crisis. Demand has collapsed in China, a crucial market, and lab grown alternatives continue to win share in some segments of the market. Anglo said Thursday it was taking a $2.9 billion impairment on the value of De Beers after last year taking a $1.6 billion writedown. Anglo reported a 15% fall in underlying earnings to $8.46 billion, while cutting its final dividend by 46% from the same period in 2023. Anglo joins its major mining peers in posting declining profits. Rio Tinto Group, BHP and Glencore Plc have all reported falling earnings this week. Iron ore has been under sustained pressure from China’s property crisis, while coal — a key Glencore earner — has slumped in the face of a supply glut. Most Read from Bloomberg Businessweek Japan Perfected 7-Eleven. Why Can’t the US Get It Right? How Med Spas Conquered America Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival The Startup That Stepped In When the Baby Formula Supply Chain Broke Elon Musk’s DOGE Is a Force Americans Can’t Afford to Ignore ©2025 Bloomberg L.P. View Comments |
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