- Anglo American cuts 2024 and 2025 guidance
- Production drop will save $1.8bn over three years
Anglo American (AAL) chief executive Duncan Wanblad announced a new strategy to “unlock value” last week and managed to send the shares down 20 per cent. Given Anglo’s weak performance already this year, this took its year-to-date share price decline to a whopping 48 per cent, taking it into buyout territory according to some analysts.
Fellow mining majors Rio Tinto (RIO) and BHP (BHP) are down 6 per cent since the start of 2023.