Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Anglo American plc    AAL   GB00B1XZS820

ANGLO AMERICAN PLC

(AAL)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 08/07 08:37:13 am
1913.3 GBX   -0.84%
08/06Glencore scraps $2.6 billion dividend after first-half loss
RE
08/06Glencore scraps $2.6 billion dividend after first-half loss
RE
08/06Glencore scraps $2.6 billion dividend after first-half loss
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Anglo American : Diamond giant De Beers likely to cut jobs after COVID-19 hit

share with twitter share with LinkedIn share with facebook
07/30/2020 | 11:18am EDT
FILE PHOTO: A truck drives amongst workings at the De Beers Voorspoed Diamond mine near Kroonstad

Diamond mining giant De Beers is likely to have to cut jobs, its chief executive said on Thursday, as it outlined plans for an overhaul of its business after the coronavirus hit jewellery demand.

De Beers, a unit of Anglo American, earlier reported plunging earnings in the first half of 2020 as a drop in rough diamond sales and prices hurt margins.

Underlying earnings before interest, tax, depreciation and amortization (EBITDA) were just $2 million in the period, down from $518 million in the first half of last year.

De Beers CEO Bruce Cleaver told Reuters official consultations with workers will begin on Aug. 11. He said the business overhaul "is likely to lead to some job losses, but I can't tell you at this point what that number will be".

Cleaver said the process would last for three months and involve a review of mining, rough sales, retail and the corporate centre, but exclude joint venture businesses in Botswana and Namibia which have different governance structures.

De Beers employs 20,000 people across its entire business.

The country's coronavirus state of emergency, which ends in October, prohibits businesses from laying off workers.

Asked whether De Beers was planning job cuts in Botswana, executive vice president for diamond trading Paul Rowley said that as the transformation plan was a work in progress, he couldn't take anything off the table.

South Africa's National Union of Mineworkers did not immediately reply to a request for comment on possible job cuts by De Beers.

Maintaining that the long-term outlook is positive, however, the miner said its business transformation plan aims to boost margins by, among other things, modernising the way it sells diamonds.

(This story corrects paragraph 8 to change last name to Rowley from Rawley, changes to couldn't from could)

(Reporting by Zandi Shabalala in London and Brian Benza in Gaborone; Additional Reporting by Tanisha Heiberg in Johannesburg; Writing by Helen Reid; Editing by Jan Harvey and David Evans)

share with twitter share with LinkedIn share with facebook
Latest news on ANGLO AMERICAN PLC
08/06Glencore scraps $2.6 billion dividend after first-half loss
RE
08/06Glencore scraps $2.6 billion dividend after first-half loss
RE
08/06Glencore scraps $2.6 billion dividend after first-half loss
RE
07/31ANGLO AMERICAN : 2020 Interim Results conference call transcript
PU
07/31Oil trading boosts Glencore's 2020 expectations
RE
07/30Materials Down As Gold Rally Pauses, Miners Give Mixed View -- Materials Roun..
DJ
07/30Sales of Household Staples Boost Results -- Earnings at a Glance
DJ
07/30ANGLO AMERICAN : Diamond giant De Beers likely to cut jobs after COVID-19 hit
RE
07/30Anglo American 1st Half Revenue, Ebitda Beat Expectations -- Earnings Review
DJ
07/30Anglo American 1st Half Profit Fell 75% Due to Pandemic, Ebitda Beat Views --..
DJ
More news
Financials (USD)
Sales 2020 26 408 M - -
Net income 2020 2 134 M - -
Net Debt 2020 6 717 M - -
P/E ratio 2020 15,0x
Yield 2020 3,03%
Capitalization 31 283 M 31 262 M -
EV / Sales 2020 1,44x
EV / Sales 2021 1,33x
Nbr of Employees 63 000
Free-Float 80,5%
Chart ANGLO AMERICAN PLC
Duration : Period :
Anglo American plc Technical Analysis Chart | AAL | GB00B1XZS820 | MarketScreener
Technical analysis trends ANGLO AMERICAN PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 27,90 $
Last Close Price 25,35 $
Spread / Highest target 31,0%
Spread / Average Target 10,1%
Spread / Lowest Target -28,0%
EPS Revisions
Managers
NameTitle
Mark Cutifani Chief Executive Officer & Executive Director
Stuart John Chambers Chairman
Stephen Thomas Pearce Finance Director & Executive Director
Anthony Martin O'Neill Executive Director & Group Technical Director
Anne L. Stevens Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ANGLO AMERICAN PLC-11.20%31 262
BHP GROUP2.31%133 934
RIO TINTO PLC4.82%105 390
GRUPO MÉXICO, S.A.B. DE C.V.19.13%21 500
FRESNILLO PLC107.83%12 871
POLYMETAL INTERNATIONAL PLC67.78%12 419