Table of Contents
Key Points
- Anglo American declared a $791 million final dividend, down 33%, following a 64.94% drop in headline earnings and a $3.07 billion net loss.
- The company secured $5.3 billion from divesting steelmaking coal and nickel assets, shifting focus to copper, premium iron ore, and crop nutrients.
- Anglo American remains committed to long-term value creation through portfolio optimization, cost efficiencies, and balance sheet strengthening.
Anglo-American, a diversified global mining giant led by South African businessman Duncan Wanblad, has declared a final dividend payout amounting to $791 million for the year ended December 31, 2024. This comes despite a 64.94 percent decline in headline earnings, underscoring commitment to shareholders amid a challenging operating environment.
Dividend decline reflects financial pressures
According to its recently released result, the final dividend for the year ended Dec. 31, 2024, amounts to $791 million, translating to a payout of $0.64 per share. This marks a 33 percent decline from the $0.96 per share distributed in the previous year.
The mining company under Wanblad’s leadership reported a 64.94 percent plunge in headline earnings, from $2.5 billion in 2023 to $875 million in 2024. More significantly, a net loss of $3.07 billion replaced the $1.34 billion profit recorded in 2023, largely driven by $3.8 billion in impairments, including a $2.9 billion writedown of its De Beers diamond business.
Revenue also declined 11 percent year-on-year to $27.29 billion, weighed down by falling commodity prices and weak diamond market conditions.
Restructuring and portfolio simplification
Amid these financial woes, Anglo-American continued its aggressive portfolio reshaping strategy, divesting non-core assets to unlock cash and improve balance sheet flexibility. The company secured up to $5.3 billion in proceeds from the sale of its steelmaking coal and nickel businesses, key steps in its pivot toward higher-margin commodities such as copper, premium iron ore, and crop nutrients.
Duncan Wanblad, Chief Executive of Anglo American, highlighted the company’s strong operational performance and financial discipline, keeping net debt steady at $10.6 billion. He said: "We have moved at pace to set up Anglo American as a highly attractive and differentiated value proposition for the long term, offering strong cash generation to support sustainable shareholder returns and the capabilities and longstanding relationship networks to deliver our full value and growth potential."
Anglo’s future: Strategic positioning for growth
Founded in 1917 by Ernest Oppenheimer, Anglo-American remains a global leader in platinum, diamonds, copper, nickel, iron ore, polyhalite, and steelmaking coal, with operations spanning Africa, Asia, Australia, Europe, and the Americas.
Since assuming the CEO role in April 2022, Duncan Wanblad has led an ambitious restructuring to enhance profitability and long-term value. This includes divesting non-core assets and driving significant cost efficiencies.
The company’s total assets declined to $64.9 billion in 2024 (from $66.5 billion in 2023), while retained earnings fell to $36.7 billion (from $40.9 billion).
Despite short-term financial pressures, Anglo American remains focused on optimizing its portfolio, strengthening its balance sheet, and positioning itself for sustainable growth.
