Anglo American Plc said copper operations are running “exceptionally well,” opening the door to exceeding output forecasts, as the London-based miner seeks to boost operations after project writedowns and lower profits.
Anglo American Plc, the metals producer reviewing global assets to boost profit after replacing its chief executive officer, has started correcting years of “self-harm,” Sanford C. Bernstein Ltd. said.
Anglo American Plc’s Mark Cutifani will have no one left to blame if he fails to meet his goal of turning the company around as early as next year after writing down former Chief Executive Officer Cynthia Carroll’s deals.
Anglo American Plc appointed Mark Cutifani as chief executive officer as the mining company seeks to reverse the $14 billion loss of market value it suffered in the five years his predecessor Cynthia Carroll was in charge.
Anglo American Plc, the mining company reviewing its operations worldwide to try to save cash, plans to raise annual copper output by 150,000 metric tons to counter falling ore grades and delays in developing projects.
AngloGold Ashanti Ltd., the world’s third-largest producer of the metal, cut its dividend by half in the third quarter and reduced annual spending plans by $200 million after strikes idled all of its South African mines.