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

ANGLO AMERICAN PLC

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Anglo American : focuses COVID-19 response on people's health and business continuity

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03/20/2020 | 04:13am EDT
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20 March, 2020

Given the fast-evolving global impact of the COVID-19 pandemic, Anglo American is providing an update on how it is responding to protect the health and wellbeing of its people, whilst maintaining business continuity.

First and foremost, Anglo American is abiding by the advice from the government and health authorities in its different operating jurisdictions in relation to the COVID-19 pandemic. Anglo American is also implementing additional measures across its offices and operations, guided by the World Health Organisation and national public health authorities.

Mark Cutifani, Chief Executive of Anglo American, said: 'We are taking all appropriate measures, often tailored to the specific nature and location of a particular site, to protect the safety, health and wellbeing of our people and all those who interact with our business around the world.

'The nature of our business is such that much of our work cannot be done remotely, so our focus is on reducing the risk of the virus spreading into and across our sites. Operational continuity is critical for jobs, for the communities around our operations and for the local and global economies. Our sites and offices therefore have escalation plans to accommodate the ongoing impact of the pandemic and these will continue to be revised as the situation evolves.

'We recognise that this is a fast changing and stressful situation for everyone and we know that we all have our part to play to help each other through the pandemic and be ready for when we emerge on the other side.'

Anglo American has a designated senior multi-disciplinary team in place that is monitoring the situation across our operating countries and sites to update our decisions in response to the disease and to plan for a range of scenarios. This team provides advice to the operating businesses and provides regular updates to Anglo American's Chief Executive and Group Management Committee.

Currently all our mines are operational, with no material impact on production, and our supply chains are functioning well as a result of ongoing proactive engagement with our key supply partners. At certain operations, such as those in Chile, we are taking measures to temporarily reschedule operational work in order to help reduce the density of people on site and with it reduce the probability of the virus spreading. Such actions are designed to minimise any impact on our production volumes and on our deliveries of metals and minerals to customers.

Across our business as a whole, our approach is to take measures to help safeguard our people from the spread of COVID-19, while ensuring we are able to continue the day-to-day business of Anglo American. These measures include:

  • Regular communications with employees on all guidelines, restrictions and best practice hygiene and health recommendations;
  • Working from home (in many countries), where possible or required or, for certain offices, strict segregation rotas;
  • Restrictions on all new and existing work-related international travel;
  • Across most of our corporate offices, employees who want to work remotely can choose to do so, especially if pregnant or at risk, or caring for children, the elderly or vulnerable;
  • Restrictions on non-essential visits to operating sites;
  • Intensified cleaning at offices and sites;
  • Social distancing measures at operating sites, including in team meetings, canteens and accommodation;
  • Temperature screening of those entering certain of our offices and sites, with extension to other offices and sites being examined;
  • Enhanced health benefits - and addressing the gaps that exist in public health infrastructure around key operating assets in certain jurisdictions - to keep employees healthy and productive and to ensure that sick employees are treated; and
  • Identifying appropriate support for host communities to help prevent and manage COVID-19 infection.

Mark Cutifani added: 'Global markets are reflecting the uncertainty created by the spread of COVID-19 through unprecedented volatility. This tends to mask the fundamental drivers of supply and demand, which we believe remain robust in the medium and longer term for the metals and minerals that we produce. As certain countries recover from the pandemic, we expect to see economic activity ramp back up, supported by stimulus from governments and central banks.'

Anglo American has transformed the performance and resilience of its business in recent years, contributing to its strong financial position. As reported on 20 February 2020, Anglo American had a net debt of $4.6 billion at 31 December 2019 and liquidity of $15.0 billion, including $6.3 billion of cash. Anglo American will continue to manage its business in the best interests of its shareholders and its stakeholders across the value chain, from its employees to customers.

For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
Email: james.wyatt-tilby@angloamerican.com Email: paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Robert Greenberg
Email: marcelo.esquivel@angloamerican.com Email: robert.greenberg@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124
Katie Ryall Emma Waterworth
Email: katie.ryall@angloamerican.com Email: emma.waterworth@angloamerican.com
Tel: +44 (0)20 7988 8935 Tel: +44 (0)20 7968 8574
South Africa
Pranill Ramchander
Email: pranill.ramchander@angloamerican.com
Tel: +27 (0)11 638 2592
Sibusiso Tshabalala
Email: sibusiso.tshabalala@angloamerican.com
Tel: +27 (0)11 638 2175

Notes to editors:

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals that enable a cleaner, greener, more sustainable world and that meet the fast growing consumer-driven demands of the world's developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world - safely, responsibly and sustainably.

As a responsible miner - of diamonds (through De Beers), copper, platinum group metals, iron ore, coal and nickel - we are the custodians of what are precious natural resources. We work together with our business partners and diverse stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate, and for society as a whole. Anglo American is re-imagining mining to improve people's lives.

www.angloamerican.com

Disclaimer

Anglo American plc published this content on 20 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 March 2020 09:12:01 UTC

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Financials (USD)
Sales 2020 24 296 M - -
Net income 2020 2 256 M - -
Net Debt 2020 6 550 M - -
P/E ratio 2020 13,2x
Yield 2020 3,07%
Capitalization 29 313 M 29 339 M -
EV / Sales 2019
EV / Sales 2020 1,48x
Nbr of Employees 63 000
Free-Float 89,4%
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Technical analysis trends ANGLO AMERICAN PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 26,23 $
Last Close Price 23,75 $
Spread / Highest target 41,5%
Spread / Average Target 10,4%
Spread / Lowest Target -30,1%
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
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