London, April 22, 2026, 18:15 (BST)
Anglo American plc climbed 1.9% Wednesday, leaving the broader London market behind as traders shrugged off a standard dividend update and zeroed in on the miner’s copper-focused pivot. Shares finished at £36.29. The FTSE 100 slipped 0.2%, market data showed.
This comes as Anglo edges closer to its Q1 production update and annual meeting, both on the near horizon. Shareholders are set to get their final dividend on May 6, and the company has now locked in the sterling and euro payout figures. For income-focused investors, that settles at least one detail.
Anglo’s final dividend is set at 16 U.S. cents per share, with the sterling amount coming in at 11.822 pence and 13.548 euro cents for the euro payout, according to a regulatory filing. Both figures reflect rates secured via forward contracts—currency trades arranged ahead of time to help manage exchange-rate swings.
The dividend barely registers next to the bigger picture. Anglo is scrambling to pivot toward copper, high-grade iron ore and fertilizers, spinning off or dropping assets like steelmaking coal, nickel and De Beers.
Chief Executive Duncan Wanblad described 2025 as a “transformational year,” pointing to the company’s move toward creating Anglo Teck. Chair Stuart Chambers highlighted “determination and energy” behind the group’s portfolio shifts. For 2025, Anglo posted $6.4 billion in underlying EBITDA—excluding select one-off and financing items—and reported net debt at $8.6 billion. Anglo American
Anglo and Teck Resources struck a merger-of-equals deal back in September, a move set to form a leading global copper player based in Canada. Under the terms, Anglo shareholders would take about 62.4% of the new entity. The merged group, aiming for over 70% copper exposure, is targeting $800 million in annual pre-tax recurring synergies—mainly cost cuts and efficiency improvements—by the fourth year post-close.
It’s a restless stretch for miners. On Wednesday, BHP—the biggest publicly traded mining group—raised its full-year copper forecast, putting rivals on the spot to deliver expansion in a key metal for grids, building, EVs, and data infrastructure.
Anglo’s production numbers land April 28, with the annual meeting in London set for April 29. Copper output, developments at Los Bronces and Quellaveco, and updates on disposals—steelmaking coal in particular—are all in focus for investors.
Anglo and Codelco, Chile’s state miner, are each moving ahead with separate environmental impact filings this December for their jointly used Andina-Los Bronces copper pit, according to documents reviewed by Reuters. The venture looks set to boost annual copper output by roughly 120,000 metric tons between 2030 and 2051, bringing in at least $5 billion in pre-tax value, Reuters said.
Still, real risks remain. Anglo’s Teck acquisition is waiting on more regulatory green lights, and according to Brazil CEO Ana Sanches in March, the company isn’t counting on a final sign-off until close to year-end. Environmental approvals in Chile? Those could get tangled up too, with regulators, locals, and environmental groups all watching Los Bronces closely.
Anglo’s balance sheet isn’t under heavy strain, but there’s little margin for error now. For 2025, the company posted a $3.7 billion loss to shareholders, a figure weighed down by a $2.3 billion pre-tax impairment at De Beers. Still, performance from ongoing operations proved somewhat more resilient.
The market, for now, is seeing the new dividend move as just another item on the calendar—not as any kind of shift in direction. Next week, though, is the real hurdle. Anglo needs to prove its copper and iron ore businesses can do the heavy lifting, with the Teck merger, asset sales, and Chile expansion still inching forward through red tape.
