Sales jumped 16 over the same period to 2

The world leader in Platinum, the South African Anglo Platinum had to clean up its balance sheet. Faced also with the management of a high debt, Anglo American, which controls 80 of the company, can only welcome. Ballast of a net debt of us $ 2.6 billion, Anglo Platinum yesterday launched a capital increase with subscription rights for an amount of $ 1.6 billion. Titles are offered at a price attractive, because offering a discount of more than 25 by the closing Friday in Johannesburg. The transaction was fully underwritten by the parent company, Anglo American. The operation allows the heavy weight of the platinum-group to reduce its net debt to $ 900 million. The income of the program will be entirely dedicated to the repayment of the debt of Anglo American by Anglo Platinum. Accordingly, the group led by Cynthia Carroll should see its own net debt fall back below the $ 12 billion. End of December, Anglo American had a net debt ratio exceeding 42, the highest of the Top 5 of the mine.

Prepared from six to eight months, the issue was expected by the market. A year and a half, Anglo American had constantly to fund its subsidiary. At December 31, the first owned 88 of the debt of the second.

Restructuring concluded

Based on the fact that the minority are the rights acquired, which is little doubt in view of the magnitude of the rebate, Anglo American will see its participation in the capital of Anglo Platinum climb to 82.

In addition, he said Monday that the restructuring of its activities has been buckled. About 23 of the workstations have been deleted. The important maintenance operations carried out. First result: in 2009, the production of Platinum increased by annual rate of 3 to 2.45 million ounces. Sales jumped 16 over the same period, to 2.57 million ounces, thus decreasing the volumes of inventories of plant. The average cash cost of an ounce of Platinum remained stall from 2008. It was no more needed to forget the plummeting nearly 28 of net sales, 95 of the profit as well as the gross margin increased from 33.7 in 2008 to 5.4 per cent a year later. Yesterday, in Johannesburg, the action of Anglo Platinum has bondi 6.54.

Anglo American also focuses on the remediation of the balance sheet of De Beers, the world's leading producer of rough diamonds which he holds 45 of the shares. Increased by $ 3 billion debt, the African Diamond-cutter would be on the way to refinance half happening due next month. The model of the issuance of share subscription rights was reportedly detained for an amount of $ 1 billion. The three shareholders of De Beers, Anglo American, the Oppenheimer (40 of the capital) family and the Government of Botswana (15), have agreed to take part in the operation. De Beers will communicate its 2009 results Thursday. Analysts expect a plunge of 50 of sales because of the global financial crisis and a profit on the entire exercise of reduced size.