The year 2006 proved to be a profitable year for Anglo American and this is evident in the record hike of 46% they achieved in earnings.
The company said in a statement on Wednesday that the hike earned them an increase of $5,5-billion.
The company also achieved an operating profit increase of 54%, which amounts to $9,8-billion.
It said its strong performance was due to increased production across the majority of its businesses, as well as higher prices on base metals, platinum and iron ore.
Platinum reported a record operating profit of $2,398-million, diamonds an attributable operating profit of $463-million, base metals a hike of 5% and coal, with $864-million, achieving a hike of 9%.
Those who hold stakes in the company also benefited greatly when the cash regeneration from the company’s operations of $12,2-billion, as well as proceeds from non-core disposals, resulted in a return of $7,5-billion.
This return was in a form of share buybacks and special dividends which, according to the company, was ”one of the highest levels of capital return in the industry”.
A further $3-billion buyback programme is expected to be undertaken this year. — Sapa