Measuring our performance
Business Highlights

Operating profit
(2009: $5.0bn)

$9.8bn

Underlying earnings
(2009: $2.6bn)

$5.0bn

Underlying earnings
per share (2009: $2.14)

$4.13

Dividends per share
Cents

Dividends per share

Capital expenditure
$bn

Capital expenditure

Net debt
$millions

Net debt

Operating profit includes attributable share of associates' operating profit (before attributable share of associates' interest, tax, and non-controlling interests) and is before special items and remeasurements, unless otherwise stated. See notes 2 and 4 to the financial statements for operating profit. For definition of special items and remeasurements, see note 5 to the financial statements. See note 13 to the financial statements for the basis of calculation of underlying earnings.

Unless otherwise stated, 'tonnes' are metric tons, 'Mt' denotes million tonnes, 'kt' denotes thousand tonnes and 'koz' denotes thousand ounces.

Unless otherwise stated, '$' and 'dollars' denote US dollars and 'cents' denotes US cents.

Net debt includes related hedges and net debt in disposal groups. In 2010 net debt was updated to include related hedges, being derivative instruments that provide an economic hedge of assets and liabilities included in net debt. The comparatives have been adjusted accordingly. See note 31 to the financial statements.

capEX: four strategic
growth projects $bn

capEX: four strategic growth projects

capEX: other projects
$bn

capEX: other projects

capEX: SIB
$bn

capEX: SIB
Installation of crusher equipment at Barro Alto

Installation of crusher equipment at
the Barro Alto nickel project in Brazil.

Delivery of the Barro Alto Strategic Growth Project

Anglo American continues to develop its four near term strategic growth projects – the Minas-Rio and Kolomela (previously Sishen South) iron ore projects in Brazil and South Africa respectively, the Barro Alto nickel project in Brazil and the Los Bronces copper expansion in Chile.

Barro Alto

The Barro Alto project is located in the state of Goiás, Brazil, approximately 170 km from Anglo American's existing Codemin nickel operation. The project was approved in December 2006 and will begin production in March 2011. Average production will be 36 ktpa of nickel over the life of the mine, with an average of 41 ktpa over the first five years. Once at full production, the operation is expected to be in the lower half of the cash cost curve, and will more than double production from Anglo America's Nickel business. The classic RKEF (rotary kiln electric furnace) process will be used to produce ferronickel, which is a technology already used by Anglo American at its existing nickel operations.

Ownership

100%

Full project capEX

$1.9bn

Full production

H2 2012

Incremental production
(tonnes per annum of nickel)

36,000