Anglo American Platinum Loses Nearly 40 Percent in Profits

Mineweb reported Anglo American (LSE:AAL) missed expectations with an almost 40 percent drop in profits as faltering global economic growth hit prices.

As quoted in the market news:

Anglo, the first UK-listed mining major to report first-half earnings, came in below market forecasts with a 38 percent drop in operating profit to $3.7 billion, a miss blamed on spiralling production costs.

Underlying earnings per share came in at $1.38, almost half last year’s level and again below expectations.

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