UK-based mining giant Anglo American has issued its financial results for the first half of 2013, reporting a net profit amounting to $403 million, decreasing by 68 percent from $1.25 billion in the first half of the previous year. Revenues for the period decreased by one percent year on year to $16.2 billion. EBITDA was $4.7 billion, down seven percent compared to the corresponding period of 2012. Anglo American's operating profit fell to $3.26 billion, decreasing by 15 percent year on year.
During the first half of the current year, the company's iron ore production was 21.6 million mt, unchanged compared to the same period of the previous year. The ramp-up of Kolomela mine was offset by lower production at Sishen mine as the operation recovered from the unprotected strike in the second half of 2012. In the first half this year, manganese ore production increased by two percent to 1.7 million mt, while manganese alloy production rose by 53 percent to 130,100 mt, both year on year.
According to Anglo American, the production outlook for Sishen mine in 2013 remains at around 37 million mt, reflecting the knock-on effect of the 2012 strike. The production outlook for Kolomela mine remains at approximately 9 million mt for 2013. Export sales volumes for the year as a whole are expected to be around 40 million mt.