- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Mineweb reported that De Beers has emerged as the second-largest contributor to Anglo American plc’s (LSE:AAL) profit, after copper.
Mineweb reported that De Beers has emerged as the second-largest contributor to Anglo American plc’s (LSE:AAL) profit, after copper.
As quoted in the market news:
Diamond company De Beers, once a niche business for global miner Anglo American, is rapidly rising to become the jewel in its crown – with a brighter outlook than many of its metals.
The division’s profit leapt by more than a third in 2014 at the same time as its parent company Anglo saw earnings drop by ao bout a quarter, hammered by a dive in prices of metals such as iron, copper and coal.
It overtook copper last year to become the second-largest contributor to group profit, fast closing the gap with the flagship iron ore business.
De Beers CFO Gareth Mostyn stated:
The fact that we performed well in 2014, a year that has been difficult for many of Anglo’s other businesses because of (weak) commodity prices really is a testament to the diversified business model that Anglo has.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.