Anglo's platinum earnings take a hit in 2011

13th Feb 2012 07:02

Anglo American Platinum (AAP), the platinum group metals (PGMs) producing subsidiary of FTSE 100 mining giant Anglo American, saw the headline earnings fall from $674m to $527m in the full-year ended December 31st.As such, the contribution to Anglo American's underlying earnings has fallen to $410m, down from $425m in 2010.AAP claims to account for around 40% of the world's newly mined platinum, its website says.Platinum activities accounted for $837m of the Anglo American's total operating profit of $9,763m in 2010.BC