Anglo American first-half loss shrinks, lifts dividend as Teck merger awaits approval
Anglo American reported a narrowed first-half loss and increased its dividend as it continues a major restructuring process. The company is currently awaiting Chinese regulatory approval for its $53 billion merger with Teck Resources while seeking a buyer for its De Beers diamond unit.
Why it matters
The company's financial performance and restructuring efforts are critical indicators for the global mining and commodities market.
Anglo American said on Thursday its first-half loss more than halved, raised its dividend and reported further progress on its sweeping restructuring and proposed merger with Teck Resources.
The overhaul has so far delivered one major completed deal, the 2025 demerger of its South African platinum business. Exits from coal and nickel, as well as the planned sale of diamond unit De Beers, remain under way. Anglo’s $53 billion all-stock merger with Teck is awaiting final approval from China.
The company reported a first-half loss of $858 million, compared with a loss of $1.9 billion a year earlier, largely reflecting a writedown on its steelmaking coal business.
Core earnings, or EBITDA, rose 35% to $4.0 billion, just ahead of analysts’ consensus forecast of $3.9 billion, helped by strong copper earnings and cost savings.
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