AngloAmerican Investor Day Presentation Deck
Guidance summary
Earnings
(numbers in brackets are previous guidance)
Volumes
Unit costs
2021 depreciation
2022 depreciation
2021 effective tax rate
2022 effective tax rate
LT effective tax rate
Dividend pay-out ratio
Anglo American
See slide 28-29
See slide 30
~$2.9bn
($3.0-3.2bn)
$3.0-3.2bn
31-33%²
(30-32%)
33-35%²
31-35%2
(30-33%)
40% of underlying
earnings
Capex¹
(numbers in brackets are previous guidance)
2021
Growth
• Includes Woodsmith
Sustaining
Baseline
●
•. Lifex
2022
Growth
Includes Woodsmith
●
Sustaining
• Baseline
Lifex
Collahuasi desal5
●
2023
Growth
Sustaining
• Baseline
• Lifex
. Collahuasi desal5
2024
Growth
Sustaining
• Baseline
• Lifex
Collahuasi desal5
LT sustaining
~$5.2bn ($5.5-6.0bn)
$1.8bn ($1.9-2.4bn)
~$0.6bn ($0.5bn)
-$3.4bn (-$3.6bn)
-$2.9bn (-$3.0bn)
-$0.5bn (-$0.6bn)
$6.2-6.7bn ($5.7-6.2bn)
$1.7-2.2bn3 ($1.5-2.0bn)
~$0.7bn
-$4.5bn (-$4.2bn)
-$3.4bn (-$3.0bn)
-$0.7bn (-$0.9bn)
~$0.4bn ($0.3bn)
$6.0-6.5bn ($5.6-6.1bn)
$1.2-1.7bn ($1.5-2.0bn)
-$4.8bn (-$4.1bn)
-$3.5bn (-$3.0bn)
~$0.8bn
~$0.5bn ($0.3bn)
$5.6-6.1bn
$1.5-2.0bn
~$4.1bn
-$3.3bn
~$0.6bn
~$0.2bn
~$3.0bn + lifex
Other
(numbers in brackets are previous guidance)
Quellaveco copper project
2021 capex4: 100% ~$1.25bn; our share
~$0.75bn (100% $1.3-1.6bn; our share $0.8-1.0bn)
• 2022 capex4: 100% $0.8-1.1bn; our share
$0.5-0.7bn
Our share of capex included in capex
guidance¹
●
●
●
Mitsubishi share of capex increase
to net debt (slide 37)
Dividends paid to NCI in FY21:~$2.8bn
Net debt: EBITDA: <1.5x bottom of cycle
1. Cash expenditure on property, plant and equipment including related
derivatives, net of proceeds from disposal of property, plant and equipment
and includes direct funding for capital expenditure from non-controlling
interests. Shown excluding capitalised operating cash flows. Consequently,
for Quellaveco, reflects attributable share of capex, see slide 37. Guidance
includes unapproved projects and is, therefore, subject to progress of
growth project studies and Woodsmith is excluded after 2022. Long-term
sustaining capex guidance is shown on a real basis.
2. ETR is highly dependent on a number of factors, including the mix of profits,
and may vary from the guided ranges.
3. Growth of $1.7bn-2.2bn includes the 2022 Woodsmith capex of $0.7bn,
previous growth capex guidance of $1.5-2.0bn excludes the $0.7 bn of
Woodsmith capex.
4. Excludes the coarse particle recovery capex approved in February 2021.
5. Attributable share of capex. Collahuasi desalination capex shown includes
related infrastructure, which was excluded in previous presentations.
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