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What investors should do after Anglo's production cuts

Major miner frustrates shareholders with cuts to output from new Quellaveco mine amid broader struggles
December 14, 2023
  • 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. 

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