UPDATE 3-Anglo revamp to gather pace after operating profit gain

viernes 14 de febrero de 2014 12:17 GYT
 

* 2013 operating profit up 6 pct, beats forecast

* 2nd consecutive annual net loss after $1.9 bln writedown

* Platinum business hurt by strikes

* Debt expected to peak in 2015

By Silvia Antonioli

LONDON, Feb 14 (Reuters) - Global miner Anglo American said an overhaul of its business should gather pace in the next two years after initial improvements at its copper and iron ore mines helped annual operating profit beat forecasts.

However, a $1.9 billion impairment charge related mainly to its Barro Alto nickel business in Brazil and its strike-hit platinum division in South Africa, meant Anglo, the smallest of the major diversified miners, made its second consecutive annual net loss last year.

After years of sector-lagging returns, Anglo has embarked on an initiative to improve the operation of major mines under Chief Executive Mark Cutifani, who joined the company less than a year ago.

Cutifani said on Friday that most of the improvements were still to come.   Continuación...