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Anglo American CEO Duncan Wanblad said on Thursday mining companies have to confront tough decisions such as cutting costs as weak metal prices hit earnings, a day after the groupThe industry, including South Africa, where Anglo owns iron ore, platinum and diamond mines, is going through “challenging times”, Wanblad said in a virtual address to a South African mining conference.Anglo said on Wednesday it is cutting some head office jobs across its global operations.
“We know that securing long-term competitive advantage and establishing a more resilient platform involves tough choices along the way,” Wanblad said. Weaker metals prices and concerns of a global economic slowdown this year are compounding an electricity and freight rail logistics crisis in South Africa, the continent’s most advanced economy and a leading global mining jurisdiction.had become “inevitable” as prices of the precious metals fall.
Sibanye, South Africa’s biggest mining sector employer, may be forced to close some loss-making shafts, Froneman said.
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South Africa definitely under-explored, has extraordinary untapped potential – AngloSouth Africa, with its incredible mineral’s endowment and extraordinary untapped potential, is definitely under-explored, Anglo American CEO Duncan Wanblad said in response to questions after virtually presenting on day-two of the Joburg Indaba. Wanblad was responding to a question posed by Joburg Indaba chairperson Bernard Swanepoel on what the London- and Johannesburg-listed Anglo can do to revive exploration in South Africa. (Also watch attached Creamer Media video.)
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Heads to roll at Anglo American head officesThe mining giant has begun with At Kumba Iron Ore, where 181 workers got notices and 141 jobs are expected to be cut.
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Anglo American cutting head office jobs in several countriesAnglo American said it is cutting corporate office jobs across several countries, as unions said its South African iron-ore business plans to lay off scores of workers at its head office. The global mining giant had started reorganising its operations in May, a spokesperson told Reuters on Wednesday.
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Quellaveco lessons shape Anglo’s vision for Woodsmith, says McCulleyBuilding on the success of its Quellaveco copper project, touted as the group’s most advanced greenfield mine, Anglo American is channeling this legacy into its Woodsmith project – a deep polyhalite mine nestled in the heart of North Yorkshire, England. Quellaveco, situated in Peru, stands as a testament to sustainability, innovation and technological prowess. Anglo American crop nutrients CEO Tom McCulley emphasises that these attributes will find a new home at Woodsmith.
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