Anglo books $299m contribution from De Beers

26th Jul 2011 15:15

De Beers is to make a $299m contribution to the half-year underlying earnings of Anglo American, thanks to Anglo's 45% stake in the South African diamond miner.In the six months ended 30 June 2011, mining titan Anglo American received $22m in dividends from De Beers. In addition, $45m of the outstanding shareholder loans to De Beers were repaid during the period.De Beers' underlying earnings for te first half of 2011 were $665m.The shares of Anglo American were trading 29.5p higher on the day at 3,056p in mid-afternoon trading on the day De Beers announced its interim results. --jh