UK-based mining giant Anglo American has issued its preliminary financial results for the full year of 2017, reporting a net profit amounting to $3.2 billion, increasing from a net profit of $1.59 billion in the previous year. In 2017, the company’s revenues increased by 22 percent year on year to $26.24 billion.
In the given year, Anglo American’s South African subsidiary Kumba Iron Ore’s underlying EBITDA increased by nine percent year on year to $1.47 billion, with a six percent improvement in total sales volumes and an 11 percent increase in the realized price. Meanwhile, the company recorded an underlying EBITDA of $435 million from its Iron Ore Brazil segment, reflecting the operation’s continued ramp-up to its current operating capacity.
In 2017, Anglo American’s metallurgical coal division’s underlying EBITDA doubled year on year to $1.97 billion, owing to a 65 percent increase in the metallurgical coal realized price and higher production at all three underground operations.