Mining Weekly reported Anglo American (LSE:AAL) says it will cut nearly $200-million out of the capital expenditure programme by year-end.
As quoted in the market news:
There was “no silver bullet” as far as platinum was concerned and the group’s platinum review process would not be rushed.
Platinum’s current 11% profit margin, though in line with the current industry norm, was unacceptable for the medium to long term, and Amplats was working through the review to assess the optimal configuration of the portfolio.
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