Company,which mines iron ore, manganese, or coal,copper and nickel, is selling or closing up to 35 minesAnglo American has suspended its dividend and announced plans to cut its workforce by 85000 and dispose of more than half its mines in response to the plunging price of iron ore and other metals.
The UK mining company said it would not pay a dividend for the moment half of this year and all of next year. The final time Anglo American cut its dividend was during the worst of the financial crisis in 2009. Related: Commodity crunch: miners slash spending as rout deepens - business live Continue reading...
Source: theguardian.com