To view the PDF file, sign up for a MySharenet subscription.

ANGLO AMERICAN PLC - Anglo American Platinum poised to deliver next phase of value for our stakeholders

Release Date: 22/02/2021 09:00
Code(s): AGL     PDF:  
Wrap Text
Anglo American Platinum poised to deliver next phase of value for our stakeholders

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: 549300S9XF92D1X8ME 43
JSE Share Code: AGL
NSX Share Code: ANM


22 February 2021

Anglo American Platinum poised to deliver next phase of value for our stakeholders

Anglo American plc notes the announcement by Anglo American Platinum Limited released today
to the Johannesburg stock exchange. The text of the announcement is copied below:

Natascha Viljoen, Chief Executive Officer of Anglo American Platinum, commented:

“We are grounded in our purpose to re-imagine mining to improve people’s lives. Delivering on
our strategy will create value for our stakeholders and help ensure a safer, cleaner and smarter
future. Climate change is rapidly accelerating global decarbonisation efforts, which will increase
the long-term demand for our metals. We are therefore strongly focused on leveraging our
capabilities across our value chain to lead technology deployment and market development for
our products. Against this backdrop, our industry leading portfolio provides a strong platform for
growth, and we own diverse, low cost and long-life mining and processing assets. Our firm
commitments to deliver safe, responsible and reliable production, together with building thriving
local communities and maintaining a healthy environment, is central to all we do. We will achieve
this through our goal of delivering industry leading returns through value-focused capital

Strategic priorities

Our focus is on four strategic priorities to deliver the next phase of value creation for stakeholders.

-     Stimulate new markets and leverage new capabilities through our market development
      activities to increase and broaden demand while capturing value from adjacent value chain
-     Embed anti-fragility across our business to increase the resilience of our operations and
      enable value creation initiatives.
-     Maximise value from our core. We have an industry leading asset portfolio and our assets
      will be in the first half of the cost curve. We own diverse, high quality and long-life mining and
      processing assets with the optionality to grow high margin, high returning ounces in a
      disciplined manner.
-     Be a leader in ESG through developing trust as a corporate leader, building thriving
      communities, and maintaining a healthy environment. ESG is core to our strategy and way
      of working, including in our capital allocation framework.

Value creation

Delivering on these strategic priorities will increase our attributable production from own mines
and joint operations from c.3.0 million ounces today, by 20% to c.3.6 million ounces in 2030,
while improving margins and returns from the business.

This will be achieved through operational excellence and our disciplined, balanced capital
allocation approach, which is focused on maintaining balance sheet strength, value added growth
and an attractive return to shareholders:

-      We are committed to the base dividend of 40% pay-out of headline earnings; and
-      We will continue a disciplined approach to discretionary capital, looking at the highest returns
       through portfolio upgrade, breakthrough technology, project growth options, ESG
       opportunities and additional returns to shareholders.

Key targets(1):

       -    100% of our operations to be fully modernised and mechanised by 2030
       -    All of our own mine operations to be in the first half of the primary cost curve by 2025
       -    Mining EBITDA margin of 35-45% by 2030
       -    A through the cycle return on capital employed of at least 25%
       -    Supporting the creation of 5 jobs off site for every one on site by 2030
       -    A net reduction in CO2 emissions of 30% by 2030 and carbon neutral (scope 1 and 2) by

(1)Targets are all based on consensus long term pricing

This announcement contains forward-looking statements which are based on the Company’s
current beliefs and expectations about future events. The operational and financial forecasts
provided in this announcement are estimates and have not been reviewed and reported on by
the Company’s external auditors.

For further information, please contact:

Media                                                  Investors
UK                                                     UK
James Wyatt-Tilby                                      Paul Galloway          

Marcelo Esquivel                                       Robert Greenberg           

Katie Ryall                                            Emma Waterworth                

South Africa
Sibusiso Tshabalala

Nomonde Ndwalaza

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

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.

Legal Entity Identifier: 549300S9XF92D1X8ME43

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.

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 22-02-2021 09:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story