Low-cost, long-life asset base. High degree of diversity across commodities. Healthy margins. Moderate leverage. Comfortable debt maturity profile. Volatile and cyclical prices and demand. Substantial capital expenditure plans that could be partly debt-funded. Substantial minority holdings in its key iron ore asset Kumba Iron Ore and in the large Chilean copper operations of Anglo American Sur (24.5% already sold). Concentration of assets in emerging markets, notably South Africa. The ratings on global diversified mining group Anglo American PLC (Anglo) reflect Standard&Poor's Ratings Services' view of Anglo's "strong" business risk profile and "intermediate" financial risk profile. Supportive factors for the business risk profile include the group's low cost positions in most segments, healthy margins, and new production coming from
