{"id":12847,"date":"2012-07-27T13:40:10","date_gmt":"2012-07-27T11:40:10","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/update-3-anglo-disappoints-with-profit-drop-brazil-delay\/"},"modified":"2012-07-27T13:40:10","modified_gmt":"2012-07-27T11:40:10","slug":"update-3-anglo-disappoints-with-profit-drop-brazil-delay","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-3-anglo-disappoints-with-profit-drop-brazil-delay\/","title":{"rendered":"UPDATE 3-Anglo disappoints with profit drop, Brazil delay"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* H1 operating profit $3.7 bln vs $4 bln forecast<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Falling prices amount to $1.8 billion hit<\/p>\n<p><span><\/span><\/p>\n<p>* First production at Minas Rio delayed at least 12 months<\/p>\n<p><span><\/span><\/p>\n<p>* Says still assessing cost impact of Minas Rio trouble<\/p>\n<p><span><\/span><\/p>\n<p>* Shares top FTSE loser list, down over 4 pct<\/p>\n<p><span><\/span><\/p>\n<p>By Clara Ferreira-Marques<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, July 27 (Reuters) &#8211; Anglo American posted a<br \/>\nsteeper-than-expected drop in profits as faltering global<br \/>\neconomic growth hit prices, and the miner sparked further<br \/>\ndisappointment with a delay of at least 12 months for its<br \/>\ntrouble-prone Brazilian iron ore project.<\/p>\n<p><span><\/span><\/p>\n<p>Weaker prices for key commodities and stubbornly high costs<br \/>\nwhich have squeezed margins have battered the major miners that<br \/>\nhave reported results so far. Brazil&#8217;s Vale posted<br \/>\nits worst earnings in two years earlier this week.<\/p>\n<p><span><\/span><\/p>\n<p>Anglo, the first UK-listed mining major to report first-half<br \/>\nearnings, came in below market forecasts with a 38 percent drop<br \/>\nin operating profit to $3.7 billion, a miss analysts attributed<br \/>\nto still-rising costs and a poor coal performance in particular.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* H1 operating profit $3.7 bln vs $4 bln forecast * Falling prices amount to $1.8 billion hit * First production at Minas Rio delayed at least 12 months * Says still assessing cost impact of Minas Rio trouble * Shares top FTSE loser list, down over 4 pct By Clara Ferreira-Marques LONDON, July 27 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12847","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12847"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12847\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}