LONDON -- Mining group Anglo American said Friday that its first-half net profit fell 31% to $2.06 billion from $2.97 billion, while group revenue including associates rose 35% to $15.02 billion. Excluding tax and one-off items, the group said underlying earnings roughly doubled to $2.21 billion from $1.1 billion as it also reinstated its dividend with a 25 cents-a-share interim payout. Anglo American also said that its Minas Rio iron ore project in Brazil is facing delays due to the increasingly rigorous and complex permitting process in the country. It said a change in scope and licensing conditions will increase costs by around $210 million and that it expects higher schedule costs equivalent to a quarterly amount of around $180 million.
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