July 26, 2018 / 6:16 AM / 4 months ago

Anglo American confirms Quellaveco copper project, H1 earnings rise

LONDON, July 26 (Reuters) - Anglo American on Thursday said its board had approved development of its Quellaveco copper project in Peru, a step expected after it announced in June that Japan’s Mitsubishi Corp would increase its stake in the project.

It also announced an 11 percent year on year increase in first half underlying EBITDA (earnings before interest, tax, depreciation and amortisation) to $4.6 billion.

A consensus of analysts forecasts predicted EBITDA around $4.5 billion.

Reporting by Barbara Lewis; editing by Jason Neely

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