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Anglo American (AAL:LN) Profit Steadies as Metals Rally Offsets Gems and Coal

Anglo American (AAL:LN) Profit Steadies as Metals Rally Offsets Gems and Coal

Anglo American (AAL:LN) Profit Steadies as Metals Rally Offsets Gems and Coal
Feb 25, 2021 30 secs

This year, its De Beers diamond unit reported its smallest profit since at least the early 2000s, and coal earnings plunged after weaker prices and production setbacks in Australia.

Still, the company was able to post its best second-half performance in a decade as prices for commodities such as copper and iron ore rallied strongly and the impact of the pandemic on its operations eased.

The company reported underlying earnings of $9.8 billion compared with $10 billion a year earlier.

Prices of other commodities such as oil and iron ore have also surged, while mining stocks are at the highest in a decade

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