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A field officer receiving camp supplies at the Los Sulfatos exploration site, close to the Los Bronces copper mine in Chile, at an altitude of between 4,000 and 4,500 metres above sea level.

The investment of choice
Clear strategic priorities

Anglo American is one of the world's largest diversified mining groups, producing precious, base and bulk commodities and operating predominantly in southern Africa, Australia, Brazil and Chile.

Anglo American's ambition is 'to be the leading global mining company' - the investment, partner and employer of choice.

The most attractive commodities

In order to realise its ambition of being the investment of choice, Anglo American has a clear strategy of deploying its capital in those commodities that deliver superior long term, through-the-cycle returns for its shareholders.

The Company has identified copper, diamonds, iron ore, metallurgical coal, nickel, platinum and thermal coal as having the most attractive fundamentals.

In many of these commodities, Anglo American has a leading position, such as in platinum and diamonds, where the Group is the clear world leader, and iron ore and metallurgical coal, in which it is expanding its market share.

Anglo American is also focused on those commodities most leveraged to demand growth in the emerging economies, in particular China, Brazil and India.

China, which continues to be the great driver of growth in mining and metals, still has relatively low per capita consumption levels, as well as a structural deficit in such commodities, particularly iron ore, copper and the platinum group metals - while in 2009 the country became a net importer of both thermal and metallurgical coal for the first time. Meanwhile, India, the world's second most populous nation, is likely to have a growth rate approaching double digits in 2010 as manufacturing industries and infrastructure investment become major parts of its expanding economy, thus boosting demand for natural resources.

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Annual Report 2009