Global scale and scope Strong market positions in attractive segments, including platinum and copper Increased focus on mining activities Strengthened profitability despite cost pressures Strong cash flow generation to support more active growth strategy Less conservative financial policy Heightened execution risks on large projects Weakening economic outlook in developed markets Persistent industrywide cost pressures and capital intensity Sizable portion of assets located in South Africa The ratings on global diversified mining group Anglo American PLC reflect its scale and scope of operations; strong market positions in attractive segments, notably platinum and copper; increased focus on mining activities and more active growth strategy; strengthened profitability; and strong cash flows. These strengths are partly offset by a less conservative financial policy, with
