Strong Anglo American set to return €2.28bn to investors

ANGLO American, the world’s third-largest miner, said yesterday it would return $3 billion (€2.28bn) to investors as it posted a 46% rise in annual net profit, below the average forecast.

Chief executive Tony Trahar, who steps down from the role at the end of the month, said he saw “a supportive climate for commodities in the near term”.

Mr Trahar also told reporters that Anglo had received approval in principle, from South African authorities, to spin off Mondi — its packaging and paper business — by the middle of the year, with dual listings in Johannesburg and London.