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Mining’s poster child of pain can talk about growth again

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(iStock)
(iStock)

Cape Town - Among the mining giants, perhaps none suffered more than Anglo American [JSE:AGL] during the commodities crisis. After a year of overhauling the business, growth is now on the horizon.

Anglo, which releases results later this month, is expected to report the first profit increase in five years on the back of surging commodity prices and deep cost cuts. Chief executive officer Mark Cutifani says the company will likely pay a dividend next year and may consider expanding through deals in the future.

“Make no mistake, we are not the company we were,” he said at the Mining Indaba conference in Cape Town, South Africa.

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