Anglo American’s new chairman creates new investor calls for direction
London — Anglo American’s new chairman, who arrives on Wednesday, faces investor calls for clear direction at the miner, long seen as a potential takeover target. The smallest of the world’s four big miners, Anglo is viewed as the most vulnerable to being bought, and incoming chairman Stuart Chambers has a strong record in securing buyers for the companies he leads. The mining majors have accrued cash as commodity markets recover, but their share prices are below all-time highs as investors shy away from a sector known for reckless deals in the past. Anglo is viewed as particularly undervalued because of its focus onSA, where unions are restive; mines are old, deep and difficult to access; and the industry is in dispute with the government over its mining code. Top 20 investors in the company, who asked not to be named, said Anglo’s CEO Mark Cutifani had sorted out operational issues, but a vision for what happens next in SA and elsewhere is needed. "What investors want to see is cl...
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