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Anglo American reinforces sustainability commitment and pathways to decarbonisation
Anglo American plc (the "Company")
Registered office: 20 Carlton House Terrace, London SW1Y 5AN
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM
30 October 2020
Anglo American reinforces sustainability commitment and pathways to decarbonisation
Anglo American plc (“Anglo American”) is today presenting its annual sustainability performance
update, including a clear pathway to achieve carbon neutrality across its operations by 2040.
Mark Cutifani, Chief Executive of Anglo American, said: “We have long understood the
inextricable link between our sustainability performance and our financial performance and ability
to generate returns. A sustainable business comes from being a purposeful business: competitive,
resilient and agile – a business that thrives through economic and social cycles – of course
underpinned by non-negotiable values.
“Sustainability lives at the very heart of our strategy, not as an adjacent activity, but embedded
in how we do our work. Much of what we are driving for, particularly in terms of our energy and
water ambitions, will be achieved through the technologies we are implementing – hence the
inseparable connection between our technology work and our Sustainable Mining Plan outcomes
under our FutureSmart Mining™ programme. Bulk Ore Sorting alone can deliver a c.10%
reduction in energy and water intensity for an operation, for example. Our Sustainable Mining
Plan that we developed in 2017, and that we structured to drive environmental, social and
governance performance, is part of the transformation of our business and is designed to deliver
value to all our stakeholders.
“Tackling climate change is the defining challenge of our times. We have set ourselves an
ambitious goal of carbon neutrality across our operations by 2040, with eight of our assets to get
there by 2030. Our underlying principle is to reduce carbon going into the atmosphere and we
have clear pathways. For Scope 1 and 2, these include:
• ongoing transition of our portfolio towards those metals and minerals which support
a greener, cleaner, more sustainable world – thermal coal operations in South Africa
planned for likely demerger;
• reducing our energy consumption and intensity through P101 performance
improvements, and technologies and digitalisation – we met our 2020 target of a 22%
reduction in emissions a year early;
• increased use of renewable energy – we will use 100% renewables in Chile from 2021
and Brazil from 2022, and we begin trials of our green hydrogen fuel-cell powered haul
truck in South Africa in 2021; and
• use of nature-based solutions on land we manage and using resources that we control
where we can show carbon reduction alongside improving local biodiversity.
“We’re also taking a considered approach to tackling Scope 3 emissions. In some of the 15
categories in our published inventory, we have a high level of control or influence over the source
of the emissions and so we can drive emissions down. Our customers’ emissions of course make
up most of our Scope 3, particularly in the steel value chain, and we have little control of, or
influence over those emissions. We are evaluating the best ways for us to play our part, including
through partnerships with our customers where we can build on a mutual ambition to reduce
emissions through shared capabilities.
“When I look at the overall direction of our business, combined with the integrated way we
consider the full breadth of sustainability, our suite of products is aligned with demand from:
• a consumer driven world with a growing population;
• an increasingly electrified and connected world as demand for higher standards of living
grows and grids follow; and
• a greener world as a focus on preserving our environment leads to changing behaviour
in a range of areas – increased renewables, the growing hydrogen economy, tighter
emissions standards and more modern, cleaner steel making.
“Two thirds of our output will be focused on later cycle demand as thermal coal moves out of the
portfolio, replaced by growth in Copper and Crop Nutrients. We are well positioned to run the
business sustainably and – being disciplined with our capital – to grow the business sustainably
as well.”
Sustainable Mining Plan updates
Our 2020 Sustainable Mining Plan targets that relate to energy use, GHG emissions and water
are unchanged and performance will be assessed at the end of the year. The time period for
achieving the other 2020 targets has been extended to 2021 following the Anglo American
Board’s decision to allow flexibility in order to help the business focus on the priorities of keeping
our people and communities safe and of sustaining our operations during the Covid-19 pandemic
Furthermore, and as detailed in Anglo American’s 2019 Sustainability Report, water baseline
data is to be reset in 2020 to ensure that the reporting criteria are aligned with ICMM definitions
for water accounting. That work will be completed by the end of the year and we will start reporting
against our 2030 targets from 2021. We will update on the delivery of our 2020 water targets
early next year and have identified additional water projects to implement in the coming years to
drive towards our 2030 targets. For ease of reference, our 2020 water targets are to reduce the
abstraction of fresh water by 20% and increase water-recycling levels to 75%; and our 2030
target is to reduce the abstraction of fresh water in water-scarce regions by 50%.
The Sustainability Performance presentation is available on the Anglo American website and a
full recording will be also available following the presentation, at the link below:
https://www.angloamerican.com/investors/investor-presentations
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Robert Greenberg
marcelo.esquivel@angloamerican.com robert.greenberg@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124
Katie Ryall Emma Waterworth
katie.ryall@angloamerican.com emma.waterworth@angloamerican.com
Tel: +44 (0)20 7968 8935 Tel: +44 (0)20 7968 8574
South Africa
Sibusiso Tshabalala
sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175
Nomonde Ndwalaza
Nomonde.ndwalaza@angloamerican.com
Tel: +27 (0) 11 638 0228
Notes to editors:
Anglo American is a leading global mining company and our products are the essential
ingredients in almost every aspect of modern life. Our portfolio of world-class competitive
operations, development projects and undeveloped resources, provides many of the metals and
minerals that enable a cleaner, greener, more sustainable world and that meet the fast growing
consumer-driven demands of developed and maturing economies. With our people at the heart
of our business, we use innovative practices and the latest technologies to mine, process, move
and market our products to our customers – and to discover new resources – safely and
sustainably.
As a responsible producer of diamonds (through De Beers), copper, platinum group metals, the
steelmaking ingredients of iron ore and metallurgical coal, and nickel – with crop nutrients in
development and thermal coal operations planned for divestment – we are committed to being
carbon neutral across our operations by 2040. We work together with our business partners and
diverse stakeholders to unlock sustainable value from precious natural resources for the benefit
of the communities and countries in which we operate, for society as a whole, and for our
shareholders. Anglo American is re-imagining mining to improve people’s lives.
www.angloamerican.com
Forward-looking statements:
This announcement includes forward-looking statements. All statements other than statements of historical
facts included in this announcement, including, without limitation, those regarding Anglo American’s
financial position, business, acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations (including development plans and objectives relating to Anglo American’s
products, production forecasts and Ore Reserves and Mineral Resource estimates), are forward-looking
statements. By their nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of Anglo
American, or industry results, to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Anglo American’s present
and future business strategies and the environment in which Anglo American will operate in the future.
Important factors that could cause Anglo American’s actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others, levels of actual production
during any period, levels of global demand and commodity market prices, mineral resource exploration and
development capabilities, recovery rates and other operational capabilities, the effects of global pandemics
and outbreaks of infectious diseases, the availability of mining and processing equipment, the ability to
produce and transport products profitably, the availability of transport infrastructure, the impact of foreign
currency exchange rates on market prices and operating costs, the availability of sufficient credit, the effects
of inflation, political uncertainty and economic conditions in relevant areas of the world, the actions of
competitors, activities by governmental authorities such as permitting and changes in taxation or safety,
health, environmental or other types of regulation in the countries where Anglo American operates, conflicts
over land and resource ownership rights and such other risk factors identified in Anglo American’s most
recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk
factors and undue reliance should not be placed on forward-looking statements.
These forward-looking statements speak only as of the date of this announcement. Anglo American
expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on
Takeovers and Mergers (the “Takeover Code”), the UK Listing Rules, the Disclosure and Transparency
Rules of the Financial Conduct Authority, the Listings Requirements of the securities exchange of the JSE
Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock
Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-
looking statement contained herein to reflect any change in Anglo American’s expectations with regard
thereto or any change in events, conditions or circumstances on which any such statement is based. Nothing
in this announcement should be interpreted to mean that future earnings per share of Anglo American will
necessarily match or exceed its historical published earnings per share.
Certain statistical and other information about Anglo American included in this announcement is sourced
from publicly available third-party sources. As such, it has not been independently verified and presents the
views of those third parties, though these may not necessarily correspond to the views held by
Anglo American and Anglo American expressly disclaims any responsibility for, or liability in respect of, such
third-party information.
The Company has a primary listing on the Main Market of the London Stock Exchange and secondary
listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the Namibia Stock
Exchange and the SIX Swiss Exchange.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 30-10-2020 01:01:00
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