Stable EBITDA Margins Despite Price Drops
Despite a 10% fall in basket price, Anglo American maintained stable EBITDA margins at 30%, resulting in a full-year EBITDA of $8.5 billion.
Significant Cost Savings Achieved
Anglo American realized cost savings of $1 billion in 2024, equivalent to $1.3 billion on a run-rate basis, with a target of $1.8 billion by the end of 2025.
Successful Portfolio Simplification
The company agreed on the sale of its steelmaking coal business for up to $4.8 billion and its nickel business for up to $500 million, further simplifying its portfolio.
Copper and Iron Ore Performance
Copper and iron ore represented 76% of EBITDA, with margins of 50% and 40% respectively, supported by cost-saving measures and operational efficiencies.
Progress in Safety Initiatives
The company improved its lost-time injury frequency rates by 28% over two years, marking 2024 as its best-ever year in this aspect.