JOHANNESBURG (miningweekly.com) – In the 2025 transition year, Johannesburg Stock Exchange-listed Anglo American has maintained an earnings before interest, taxes, depreciation and amortisation (Ebitda) margin for its go-forward business of 43%, CEO Duncan Wanblad reported on Thursday, 31 July.

"We’re transforming into a higher margin, more cash generative and more valuable mining company,” Wanblad said during a media briefing covered by Mining Weekly.

Its copper, iron-ore and crop nutrients resource endowments were described as each having value-accretive growth options, with see-through portfolio value pointing to copper accounting for 60%-plus of Ebitda.

In the six months, Ebitda margins of 48% in copper and 44% in iron-ore were reported.

The first half operational and cost performance in copper and iron-ore supported further momentum towards the $1.8-billion cost-saving commitment.

Group underlying Ebitda of $3-billion was reported from continuing operations amid tough rough diamond market conditions.

Regarding the demerger of majority interest in Valterra Platinum, the residual 19.9% interest is valued at $2.6-billion and Anglo expects to monetise this responsibly over time.

Efforts to exit steelmaking coal and nickel are continuing amid the expectation of balance sheet flexibility strengthening on receipt of proceeds from sales transactions.

Work to separate diamond icon De Beers was described as being well under way, with action taken to strengthen cash flow as De Beers is positioned for long-term success and value realisation.

"Our clear and decisive actions are transforming Anglo American into a highly attractive and differentiated value proposition for the long term, offering strong cash generation to support sustainable shareholder returns combined with the capabilities and longstanding relationship networks to deliver our full value and growth potential," Wanblad outlined.

The loss of the lives of two colleagues was reported following accidents in Brazil and Zimbabwe.

Net debt is at $10.8-billion and the $0.1-billion interim dividend declared is equal to $0.07 a share, consistent with Anglo’s 40% payout policy. It reflects negative earnings from discontinued operations and lack of contribution from De Beers.

Basic headline earnings a share of $0.23 compared to $0.73 in the prior comparative year.