Anglo American PLC

AAL: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 5,853.00	Hmglc	Mqtlvjch

Modestly Lowering Anglo American's Valuation by 2% on Lower Near-Term Metallurgical Coal Sales

Jon Mills

Jul 30, 2024

Business Strategy and Outlook

As China rebalances away from infrastructure and construction-led growth, Anglo American is likely better positioned than most diversified peers. The company has greater exposure to consumption-oriented commodities like platinum and diamonds, which should enjoy better demand growth than investment-oriented commodities like iron ore and copper that prospered most in the past decade.

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