Anglo American reported a narrowed attributable loss of $858 million for the first half of the year, driven by a surge in copper prices and continued progress in its asset disposal program.
The London-listed miner also announced an increase in its dividend, signaling improved cash flow generation despite the headline deficit.
Business Day reported that the improved EBITDA performance was largely attributable to higher copper prices, which have supported margins across Anglo’s portfolio.
The results arrive as the company approaches the finalization of its proposed merger with Teck Resources, a deal that would create one of the world’s largest diversified mining groups.
The combination is expected to significantly boost Anglo’s exposure to industrial metals, particularly copper, which has seen robust demand dynamics amid the global energy transition.
Business Day reported that the improved EBITDA performance was largely attributable to higher copper prices, which have supported margins across Anglo’s portfolio.
The company’s ongoing strategy to divest non-core assets has also contributed to a leaner operational structure, enhancing financial flexibility ahead of the merger.