Anglo has (surprisingly) followed Rio’s footsteps – exceptional H1 results translating into shareholder reward extravagance. The results were driven by record-pricing gains in iron ore, copper and PGMs. However, as these price gains seem excessive, performance normalisation seems inevitable. Unfortunately, given the long-term structural issues in met coal and diamonds, normalisation in >50% margin divisions is unlikely to be compensated elsewhere. Moreover, with capex binge plans intact, shareho ....
29 Jul 2021
Excellent H1 fuelled record rewards
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Excellent H1 fuelled record rewards
Anglo American plc (AAL:LON) | 2,111 -1023.7 (-2.2%) | Mkt Cap: 28,233m
- Published:
29 Jul 2021 -
Author:
Varun Sikka -
Pages:
5
Anglo has (surprisingly) followed Rio’s footsteps – exceptional H1 results translating into shareholder reward extravagance. The results were driven by record-pricing gains in iron ore, copper and PGMs. However, as these price gains seem excessive, performance normalisation seems inevitable. Unfortunately, given the long-term structural issues in met coal and diamonds, normalisation in >50% margin divisions is unlikely to be compensated elsewhere. Moreover, with capex binge plans intact, shareho ....