Anglo American profit jumps in H1; unveils plans to return $4.1 billion to shareholders

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Mining giant Anglo American said it would return $4.1 billion to shareholders via dividends and share buybacks after reporting higher first-half profit profit, boosted by higher commodity prices.

For the six months to the end of June, profit rose to $5.19 billion from $471 million year-on-year.

The company declared an interim dividend of $1.71 a share and announced plans to deliver $1.0 billion via a special dividend and $1.0 billion via share buybacks.

'The first six months of 2021 have seen strong demand and prices for many of our products as economies begin to recoup lost ground, spurred by stimulus measures across the major economies,' the company said.

'We entered this period of strong demand and prices for many of our products with a strong balance sheet and we are therefore in a position to deliver both the investment in our sequence of margin-enhancing growth projects and also return excess cash to our shareholders,' it added.