Image source: © 2025 Krish Capital Pty.Ltd

Highlights

  • H1 FY25 revenue fell 6.6% to USD 8,954 million from H1 FY24
  • Underlying EBITDA declined 2.9% to USD 2,955 million year-on-year
  • Operational optimizations and Collahuasi expansions aim to boost future production

 Anglo American PLC (LSE:AAL), a constituent of the FTSE 250, is a global mining company. Its main portfolio focuses on copper, premium iron ore, and crop nutrients, with key copper operations at Collahuasi, Los Bronces, El Soldado, and the Quellaveco mine in Peru.

In H1 FY25, the company reported revenue of USD 8,954 million, down 6.6% from USD 9,584 million in H1 FY24. Underlying EBITDA stood at USD 2,955 million, compared with USD 3,672 million in the same period last year, representing a decrease of 2.9%. The loss attributable to equity shareholders was USD 1,879 million, higher than the loss of USD 672 million recorded in H1 FY24. Revenue was affected by lower sales volumes in copper and challenging trading conditions in diamonds. The loss for the period was mainly driven by the performance of businesses classified as discontinued operations.

Outlook

The company is focusing on operational optimisations to manage lower-grade ore processing. At Collahuasi, debottlenecking projects are expected to increase annual production by approximately 25,000 tonnes from late 2027. Construction of desalination plants at Los Bronces and Collahuasi, with key components scheduled for 2026, remains a critical path item to secure the water supply and support future expansion.

Development is underway for the next phases at both mines, including the higher-grade Donoso 2 at Los Bronces, expected by early 2027, and studies for a potential fourth processing line at Collahuasi, which could add production from the early 2030s, subject to permitting.

Top 10 Shareholders

The top 10 shareholders of AAL collectively account for approximately 38.44% of the total shareholding. Public Investment Corporation (SOC) Limited and BlackRock Investment Management (UK) Ltd. are the largest investors, holding around 6.99% and 6.35% stakes, respectively.

Stock Information

Shares of AAL last traded at GBX 2,773 on 01 October 2025. Over the past week, the stock advanced 3.82%, with monthly and 6-month returns reaching 22.48% and 31.48% respectively. Year-to-date, AAL is up 19.57%, outperforming its 52-week low of GBX 1,641.52 and achieving a fresh 52-week high of GBX 2,814.00 on the same day as its recent close.

 Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels Is 01 October 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.