Diversified mining group Anglo American, which owns 85 percent stake in diamond giant De Beers, said its capital expenditure will remain at $ 2.5 billion this year, and to maintain the viability of the business costs will increase to $ 1.2 billion.
Capital company expenses decreased from $ 4 billion in 2015 to $ 2.5 billion in 2016 due to strict cost control, applicable to all investments, as well as to the benefits from the launch of the Minas-Rio project (Minas-Rio), Gacho -Kuey (Gahcho Kué) and Grosvenor (Grosvenor).
Kyutifani Mark (Mark Cutifani), CEO of Anglo American, said that capital expenditure will be assigned the appropriate priority, and the company intends to protect the long-term value of their assets.
"We maintain a number of attractive organic options, especially in our copper mining business, which we will continue to properly implement and evaluate in the light of its overall capital structure and the current macroeconomic situation," - he said.
Meanwhile, Kyutifani said that in 2016 the economic and political environment has been unpredictable, and it emphasizes the importance of the quality of assets, balance sheet strength, operational excellence and overall sustainability.
"We look to the future and look forward to continuing to many price volatility of our products. However, we consider the fact that the proposal, as a rule, become more cautious after several years of low investment, and a common approach in the industry has become more cautious in conjunction with increasing . demand China seeks to balance its economy by means of incentives and controlled deceleration, because the fundamental picture of the market seems to be stable, "- he continues.
"The middle class, the main world power consumption continues to grow at a significant pace, which further reinforces the demand for our products, which are designed more for the later stages of development cycle," - said Kyutifani.
Anglo received a profit for shareholders for the last fiscal year of $ 1.6 billion, while underlying EBITDA amounted to $ 6.1 billion.
"Company performance was underpinned by improving labor productivity by 18% across the entire enterprise, as we gradually introduce our operating model and sold somewhat less productive assets, while the unit cost of copper equivalents decreased by 9% in dollar terms, "- said company chairman Dzhon Parker (John Parker).
The Group reduced its net debt by $ 4.4 billion, or $ 12.9 billion to $ 8.5 billion, well below the target for the end of the year to $ 10 billion, and net debt to EBITDA - 1.4 times.
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Polished diamond imports to the United States in March fell by 5.3% year on year, as the fall in the average price per carat outweighed the absence of changes in the scope of supply.
Shipments to the US fell to $ 2.04 billion, and the average price decreased by 5.3%, to $ 1895 per carat. Import diamonds by weight almost unchanged at 1.1 million carats.
Polished exports fell 15% to $ 1.48 billion, due to which net imports rose by 33% to $ 559 million.
Rough imports jumped 80% to $ 45 million, and rough exports almost tripled to $ 26 million, therefore the import of raw materials increased by 19% to $ 19 million. The balance of the diamond trade, reflecting the difference between net imports and exports totaled $ 435 million compared with $ 118 million a year ago.
At up to $ 858 million during the first three months of the year diamond imports fell 2.9% to $ 5.56 billion, and its exports decreased by 4%, to $ 4.7 billion, resulting in net polished imports increased by 3.5% .
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