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Anglo American PLC Kumba Iron Ore interim results 2019

Anglo American plc (LON:AAL) today noted the announcement of Kumba Iron Ore Limited’s 2019 interim results for the half year ended 30 June 2019, released this morning to the Johannesburg Stock Exchange and available via www.angloamericankumba.com/financial-results.

KEY FEATURES
KUMBA’S VALUE OVER VOLUME STRATEGY PAYS DIVIDENDS

Delivering exceptional shareholder returns

  • Headline earnings increased by 239% to R10.1 billion
  • Strong balance sheet with net cash up R7.1 billion to R18.8 billion
  • Interim cash dividend of R30.79 per share

Social, safety and environmental performance

  • Fatality free since May 2016
  • Lost-time injuries reduced by 36%
  • No major environmental incidents
  • R2.4 billion paid to our employees and R3.9 billion to the fiscus
  • R6 billion spent with bee suppliers

Margin benefit from quality, efficiency and market conditions

  • Highly competitive lump ore ratio maintained at 68%
  • Average realised FOB export price of US$108/tonne
  • Operating efficiency improved from 63% to 67%
  • Cost savings of R460 million, on track to achieve 2019
  • Target of R700 million
  • EBITDA margin up from 36% to 58%