Anglo American, which owns nearly half of De Beers, earned an increased first half underlying earnings by 22% to $3.1 billion, owing to strong metal prices. The group’s revenues increased by 5.4% to $19.84 billion, so also its operating profit increased by 19% to $5.5 billion than for the corresponding period last year. EBITDA was higher by 12% at $6.6 billion.
Operating profit of Anglo Platinum increased by a stupendous 62% to $1,517 million compared with first six months of 2006, due to higher platinum group metals (PGM) prices. It however, was partially offset by higher labour costs, and inflation increasing the operating costs.
De Beers’ operating profits was lowered by 9% to $266 million due to low supplies of roughs from Alrosa, to the Diamond Trading Company (DTC), and the price corrections in the gem diamond market during the first six months of 2006.
Operating profit from AngloGold Ashanti also decreased by 54% to $138 million, compared to $303 million of first half of 2006, due to its reclassification of Anglo Gold as an associate.
Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
