TIDMAAL

RNS Number : 4168X

Anglo American PLC

04 May 2021

 
4 May 2021 
Anglo American's 2020 tax and economic contribution amounts 
 to more than $25 billion 
 
 

Anglo American has published its seventh annual Tax and Economic Contribution Report, with a detailed breakdown of the company's contributions across all its major operating jurisdictions, amounting to more than $25 billion in 2020.

Mark Cutifani, Chief Executive of Anglo American, said: "Our annual Tax and Economic Contribution Report helps our stakeholders more fully understand the breadth of our role in society. The enduring positive impact of a business can only be properly assessed when you consider the total footprint of its contributions. It is with this transparency that we seek to build trust as a corporate leader in our industry - a key pillar of our Sustainable Mining Plan.

"The positive contribution we bring to the countries where we operate extends far beyond the taxes and royalties we pay. The high quality of employment that we provide and the associated wages, the money we spend with local suppliers, our corporate social investment, and our capital investments all support the fabric of many economies. In 2020, our contribution amounted to more than $25 billion, demonstrating the extent to which we continued contributing to the communities and countries where we work - both economically and socially - staying true to our Purpose as a business."

Zahira Quattrocchi, Group Head of Tax at Anglo American, added: "Paying taxes is a central responsibility for sustainable businesses. Transparency around those taxes is also critical and, for Anglo American, is a dialogue we aim to continue to lead. We see our Tax and Economic Contribution Report not only as an opportunity to provide the detail of what we contribute, but also as an opportunity to explain the principles and values that underpin our broader approach, how we govern that approach, and how we engage with our stakeholders."

This seventh Anglo American Tax and Economic Contribution Report is the first to be prepared in compliance with Global Reporting Initiative's standard for public reporting on tax GRI-207 in its first year of taking effect.

The Anglo American Tax and Economic Contribution Report 2020 is available for download at our website https://www.angloamerican.com/investors/annual-reporting/reports-library/report-2021, together with all other 2020 reports.

The breakdown of Anglo American's total tax and economic contribution in 2020 is set out below:

 
 Total taxes borne and collected    $ 5.3 billion 
 Wages and related payments         $ 3.6 billion 
 Corporate social investment        $ 0.1 billion 
 Total procurement                  $ 12.6 billion 
 Capital investment                 $ 4.1 billion 
 Total                              $ 25.7 billion 
 

For further information, please contact:

 
 Media                                      Investors 
 UK                                         UK 
  James Wyatt-Tilby                          Paul Galloway 
  james.wyatt-tilby@angloamerican.com        paul.galloway@angloamerican.com 
                                             Robert Greenberg 
  Marcelo Esquivel                           robert.greenberg@angloamerican.com 
  marcelo.esquivel@angloamerican.com 
  Katie Ryall                                Emma Waterworth 
  katie.ryall@angloamerican.com              emma.waterworth@angloamerican.com 
  South Africa 
  Nevashnee Naicker 
  nevashnee.naicker@angloamerican.com 
  Sibusiso Tshabalala 
  sibusiso.tshabalala@angloamerican.com 
  Nomonde Ndwalaza 
  Nomonde.ndwalaza@angloamerican.com 
 
 
 

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 operations, development projects and undeveloped resources, provides many of the metals and minerals that enable a cleaner, greener, more sustainable world and that meet the fast growing consumer-driven demands of developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to mine, process, move and market our products to our customers - and to discover new resources - safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, the steelmaking ingredients of iron ore and metallurgical coal, and nickel - with crop nutrients in development and thermal coal operations planned for divestment - we are committed to being carbon neutral across our operations by 2040. We work together with our business partners and diverse stakeholders to unlock sustainable value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people's lives.

www.angloamerican.com

Forward-looking statements:

This announcement includes forward-looking statements. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding Anglo American's financial position, business, acquisition and divestment strategy, dividend policy, plans and objectives of management for future operations (including development plans and objectives relating to Anglo American's products, production forecasts and Ore Reserves and Mineral Resource estimates) and environmental, social and corporate governance goals and aspirations, are forward-looking statements. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anglo American, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Anglo American's present and future business strategies and the environment in which Anglo American will operate in the future. Important factors that could cause Anglo American's actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of global demand and commodity market prices, mineral resource exploration and development capabilities, recovery rates and other operational capabilities, safety, health or environmental incidents, the effects of global pandemics and outbreaks of infectious diseases, the outcome of litigation or regulatory proceedings, the availability of mining and processing equipment, the ability to produce and transport products profitably, the availability of transportation infrastructure, the impact of foreign currency exchange rates on market prices and operating costs, the availability of sufficient credit, the effects of inflation, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by courts, regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of operations or maintenance of Anglo American's assets and changes in taxation or safety, health, environmental or other types of regulation in the countries where Anglo American operates, conflicts over land and resource ownership rights and such other risk factors identified in Anglo American's most recent Annual Report. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements.

These forward-looking statements speak only as of the date of this announcement. Anglo American expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules, the Disclosure and Transparency Rules of the Financial Conduct Authority, the Listings Requirements of the securities exchange of the JSE Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Anglo American's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Nothing in this announcement should be interpreted to mean that future earnings per share of Anglo American will necessarily match or exceed its historical published earnings per share.

Certain statistical and other information about Anglo American included in this announcement is sourced from publicly available third-party sources. As such, it has not been independently verified and presents the views of those third parties, though these may not necessarily correspond to the views held by Anglo American and Anglo American expressly disclaims any responsibility for, or liability in respect of, such information.

Legal Entity Identifier: 549300S9XF92D1X8ME43

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May 04, 2021 04:00 ET (08:00 GMT)