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22 Feb 2021 | 07:40

Anglo American outlines modernisation plans for platinum operations

(Sharecast News) - Anglo American updated the market on its strategy for its platinum operations on Monday, aiming for a mining EBITDA margin of between 35% and 45% by 2030. The FTSE 100 mining giant said it wanted all operations at Anglo American Platinum to be "fully modernised and mechanised" by 2030, with all of its own mine operations to be in the first half of the primary cost curve by 2025.

It was also targeting a through-the-cycle return on capital employed of at least 25%, and would seek the creation of five offsite jobs for every one on site by 2030.

The company wanted to see a 30% net reduction in carbon dioxide emissions by 2030, and to be 'carbon neutral' by 2040.

"We are strongly focused on leveraging our capabilities across our value chain to lead technology deployment and market development for our products," said chief executive officer Natascha Viljoen.

"Against this backdrop, our industry leading portfolio provides a strong platform for growth, and we own diverse, low cost and long-life mining and processing assets."

At 0840 GMT, shares in Anglo American were down 0.51% at 2,855.5p.
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