NGLOY Anglo American PLC (QX)

   By Adria Calatayud 
 

Anglo American PLC (AAL.LN) said Tuesday that it anticipates 2018 production to be 2% ahead of previous guidance and costs to be 5% below.

Production is expected to increase by 3% in 2019, with cost inflation fully absorbed by productivity and cost improvements, the FTSE 100 mining company said. The company forecasts a further 5% production increase in both 2020 and 2021, it said.

The company said it continues to target $3 billion to $4 billion of incremental annual earnings before interest, taxes, depreciation, and amortization by 2022.

Anglo American said it is now well positioned to drive enhanced returns through capital allocation options, after reducing net debt by more than $9 billion over the last three years.

Shares at 1139 GMT were up 3.2% at 1,625.60 pence.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

December 11, 2018 06:58 ET (11:58 GMT)

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