Security and Straight Through Processing

Managing Cash at Anglo American

by Geoff Brett, Cash Manager and William Ward-Brew, Treasury Operations, Anglo American Plc

Anglo American is one of the world’s largest diversified mining groups. The company has a unique portfolio of high quality mining assets and natural resources including precious and base metals and bulk commodities, including iron ore and coal. Headquartered in London, UK, Anglo American employs 190,000 staff in 45 countries across Africa, Europe, South and North America, Australia and Asia.

Anglo American is listed on the stock exchanges in London and Johannesburg and had operating profit in 2007 of $10.1 billion. In precious metals, subsidiary Anglo Platinum is the world’s largest platinum producer; generating 37% of the world’s newly mined platinum output. The company owns 45% of De Beers, the world’s leading diamond exploration, mining and marketing company

Cash Management Policy

Anglo American Plc typically actively manages its short term cash using AAA-rated money market funds (MMFs), mainly USD, a policy which we have had in place for a few years. As a conservative investor, maintaining high levels of security and liquidity is central to our treasury strategy and key to our rationale in using MMFs. We do not actively chase yield, prioritising security and liquidity of our funds, and our cash is used to pay down debt, wherever possible.

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