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 new projects. In addition, the company's commodity product mix is among the most diverse, covering iron ore and manganese (38% of group EBITDA), copper (22%), platinum (13%), and coking and thermal coal (combined 23%). The pending De Beers acquisition will further add diversity through a leading position in diamonds. The key constraints are volatility of the mining industry and exposure to South African country risks. These include compliance
