Restructuring for the Future Anglo American (JSE code: AGL), one of the world’s largest diversified mining groups, reported its interim results last week. Anglo has underperformed its peers, mainly as a result of the continuing labour unrest at its South African mines, where it still generates almost 50% of its earnings. Its iron ore division (read Kumba Iron Ore) was one of the biggest contributors to both Anglo’s revenue and profit. Anglo’s other divisions, however, put in unacceptably poor performances. Mark Cutifani, the new CEO since April, has been given permission by the board to simplify the company structure and turn the company around, especially with regards its Minas Rio iron ore operation in Brazil and Anglo American Platinum (JSE code: AMS). news.psgonline.co.za/2013/07/restructuring-for-the-future/
Posted on: Wed, 31 Jul 2013 08:44:13 +0000
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