Today's Labour News

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angloamerican fullMining Weekly reports that mining company Anglo American, which has reduced the number of assets in its portfolio from 68 in 2012 to 42 now, is producing more product from those 42 assets than it was with the 68.  

As a consequence, the product produced per person is currently 40% higher than it was four years ago.  With that, the company has seen a 33% reduction in operating costs and is on track to deliver a $1.6-billion cost improvement and a $1-billion cash flow improvement when it reports in February.  While continuing to adhere to its announced strategy of reducing the asset number still further to 37, Anglo currently finds itself in a position to be considerably more price assertive when dealing with offers for its mining businesses outside of diamonds, platinum and copper – the chosen three.


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