AAL Anglo American Plc

By Adriano Marchese

Anglo American PLC (AAL.LN) said Tuesday that it expects to deliver 20% to 25% production growth by 2023, as it continues to upgrade its asset portfolio over time.

The company said it continues to see progress on all fronts as it brings a number of its growth projects online during the next three years, contributing to its new production growth.

In 2019, the company said that total production volumes are expected to increase again, while costs are expected to go down by 5%.

The FTSE 100-listed mining company said incremental annual earnings before interest, taxes, depreciation and amortization is expected to be within the target of $3 billion to $4 billion between 2017 and 2022.

Looking forward to 2020, the company said it expects production to increase by 3%, with cost inflation largely absorbed by productivity and cost improvements.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 10, 2019 06:36 ET (11:36 GMT)

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