Anglo Hasn't Ruled out Other De Beers Bidders

Copper Leads Profit Growth Anglo American’s simplified portfolio generated $4.1 billion in EBITDA, an increase of 31% from the previous year. The EBITDA margin reached 46%, while underlying earnings increased 60% to $1 billion. Around 70% of portfolio EBITDA came from copper, highlighting the metal’s growing importance to the company’s investment case. Revenue increased 22%, while copper production reached 344,000 tonnes during the first half.

Anglo American PLC reported Q2 copper output of 173,200 tons, flat year over year, citing higher throughput at Los Bronces offset by lower-grade processing at Collahuasi and expected lower grades at Quellaveco. It reaffirmed FY2026 guidance for copper 700,000-760,000 tons and diamond 21-26 million carats, plus premium iron ore 55-59 million tons.

JPMorgan put Anglo American on Negative Catalyst Watch ahead of its July 23 Q2 production update, citing elevated cost risks and reiterating an Underweight rating. The bank forecasts $3.8B first-half EBITDA, below consensus, and highlights weaker iron ore, softer diamonds, and cost inflation. It set a £33.50 target and flagged Collahuasi desalination suspension tail risk.

London stocks fell in early trading as miners dropped and UK private-sector activity weakened. The UK flash composite PMI fell to 49.4 (vs 49.7 May; 50.5 forecast), with services at 48.7. FTSE 100 was down about 99 points to 10,339, led by miners and tech investors tied to SpaceX.

Forafric Global PLC (Nasdaq: AFRI) said its subsidiary Forafric Agro Industries completed a deal transferring 68% of Forafric Maroc S.A. to Cap Holding SA. Cap Holding will fund a MAD 100 million capital increase, reduce Forafric Maroc debt by about MAD 280 million, and provide two years of financing. Crédit Agricole du Maroc is expected to take a 7% stake via debt conversion.

Electronic Arts says its $55 billion acquisition by a consortium led by Saudi Arabia’s Public Investment Fund has closed. PIF, which previously held 9.9%, now owns 93.4% via partners Silver Lake and Affinity Partners. EA says it will maintain creative control; US senators had raised national security concerns, but CFIUS cleared the deal.