Anglo American reports higher profits as copper prices reach record levels

Anglo American reported a 35% rise in core earnings in the first half of 2026, reaching $4.0 billion. The main reason was a sharp jump in copper prices, which hit 608 cents per pound, about 39% higher than a year earlier. The company also cut its copper production costs significantly, from 172 cents per pound to around 145 cents. As a result, the dividend paid to shareholders more than tripled, rising from $0.07 to $0.23 per share. The company still recorded a net loss of $858 million, but this was much smaller than the $1.9 billion loss the previous year. Anglo American is selling its diamond, coal, and platinum businesses so it can focus entirely on copper mining.