LONDON, Feb 20 (Reuters) – Anglo American posted an annual loss of $3.1 billion on Thursday after taking an impairment of $3.8 billion, mostly due to its ailing diamond unit, as it races to restructure into a major copper producer following a bruising takeover battle with BHP last year.
Last year’s loss attributable to shareholders compared to a small profit of $283 million a year earlier. The company declared a full-year dividend of $0.64 per share, down from $0.96.
Anglo also said it had agreed to merge its copper mine Los Bronces in Chile with state-backed Codelco’s [RIC: RIC: COBRE.UL] operation Andina.
CEO Duncan Wanblad is under pressure to boost returns to investors after trimming down the business by selling coal and nickel assets while spinning off platinum and diamonds units.
