Thursday, February 25, 2010

Anglo American (LON:AAL) Doubling Copper Production by 2017

Anglo American Copper Production

Anglo American (LON:AAL) said earlier in the week that by 2017 its copper production will almost double to 1.2 million tons.

The major problem for copper mining companies is how quickly the auto manufacturing sector and home building sector rebound.

The most recent data isn't a great sign that we're into any type of sustainable recovery, as equipment sales in America plunged in January, confirming the December numbers were based only on replenishment and not growth.

Of course the good news for Anglo American is more than likely by the time they're producing at this level, there's a good chance there will be a real recovery before 2017.

For 2010, CEO of their copper business division, John MacKenzie said sales will reflect last years numbers of about 669,800 tons of copper brought out of the ground.

Dividends should be again offered by the company sometime near the end of 2010.

Anglo American (LON:AAL) Copper Production

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