Anglo American Considering Deeper Cost Cuts Amid Market Downturn, Reuters Reports
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Dow Jones
-- Anglo American will have to cut costs further if platinum-group metals market conditions doesn't improve, Reuters reports, citing Chief Executive Duncan Wanblad.
-- Wanblad said it was very probable jobs would be affected, but declined to say how many, Reuters reports.
-- Prices of some platinum-group metals fell sharply over the last 12 months, driving cost-cutting actions for several major South African PGM miners. Last year, Anglo American announced cuts to save around $1.8 billion.
Full story: http://tinyurl.com/ye26u3ph
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
February 06, 2024 01:34 ET (06:34 GMT)
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