London, January 21, 2026, 08:08 GMT — Regular session
- Anglo American’s shares jumped roughly 3% in early London trading.
- Investors kept their attention on metals prices amid ongoing tariff-related swings.
- Traders are focused on the company’s earnings and dividend update set for Feb. 20.
Anglo American shares climbed roughly 3.1% to 3,343 pence on Wednesday, pushing the miner closer to its recent peaks despite a generally cautious risk mood. The stock had ended the previous session at 3,243 pence, according to Investing.com data. [Source: ]
This shift is significant since miners now offer a fast gauge of investor sentiment on geopolitics and growth simultaneously. U.S. President Donald Trump’s tariff threats related to Greenland have rattled markets, pushing London’s benchmark index down in the last session as traders digested renewed trade-war concerns. [Source: ]
Safe-haven demand is spilling over into broader metals. Spot gold topped $4,800 an ounce Wednesday, marking a first and highlighting the growing defensive interest ahead of the Davos meetings. [Source: ]
“Gold has pushed further into uncharted waters as investors seek refuge from growing political risks,” said Fawad Razaqzada, market analyst at City Index and FOREX.com, in a note Tuesday. He pointed to $4,800 and $4,900 as the next key levels to watch. [Source: Reuters]
Mining sentiment took another hit overnight following Rio Tinto’s quarterly iron ore and copper output, which topped forecasts. Analyst Glyn Lawcock at Barrenjoey noted the focus is now shifting toward costs and delivery. “A solid quarter,” he said, highlighting iron ore prices and a cost-cutting programme investors are eager to see fleshed out in February. [Source: Reuters]
For Anglo American, the focus remains on the trajectory of copper and iron ore prices, and whether tariff tensions will translate into actual demand drops. Its exposure runs through South African iron ore via Kumba, plus copper operations in the Americas, making it vulnerable to steel market shifts tied to China as well as the wider industrial landscape.
The upside could shift fast if tariffs become official policy and weigh on global manufacturing, or if China ramps up pricing pressure. BHP revealed this week it accepted lower prices on some iron ore sales during 2026 supply talks with China Mineral Resources Group. RBC’s Kaan Peker noted the restrictions might tighten spot availability but would be “offset” by bigger discounts for sellers. [Source: Reuters]
Anglo American is set to release its results and dividend statement on February 20. The company had already indicated this date would include the final dividend announcement. Shareholders will cast their votes on the final dividend at the annual meeting scheduled for April 29, according to the published timetable. [Source: ]
