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Anglo American’s outgoing CEO, Mark Cutifani, could hardly have timed his exit better. Presenting his last set of financial results for the global miner last week, he reported that underlying earnings had more than doubled, to a record $20.6bn, after a year that saw record commodity prices and improved operating performance.

The share price is more than three times what it was when he set out to turn around a very ailing Anglo in 2013 (and more than 17 times the depths to which it sank at the trough of the commodities cycle in early 2016)...

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