Anglo American’s R93bn loss in value tests boss Duncan Wanblad
CEO’s resolve to slash production under pressure after biggest share price drop since 2009 global financial crisis
08 December 2023 - 19:49
UPDATED 10 December 2023 - 23:00
Anglo American lost R93bn in market value on Friday, testing CEO Duncan Wanblad’s resolve to steer the global mining titan through the downturn in the commodity cycle by cutting production to reduce costs.
Anglo announced on Friday that it is targeting a reduction in capital expenditure of $1.8bn between now and 2026 to soften the blow of weaker commodity prices...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.