[miningmx.com] – ANGLO American hired fund manager Jim Rutherford to its board as it seeks to cut costs and generate better returns for investors.
Rutherford, who starts immediately at Anglo American, has worked for 16 years at Capital Group investing in the mining and metals industry, said Bloomberg News.
Anglo has identified 15 assets for possible divestment and recently withdrew from the Pebble copper project in Alaska in September, leading to a $300m charge, Bloomberg News said.
It also said this week that it had completed the sale of its Amapa iron-ore mine in Brazil, with buyer Zamin Ferrous paying $134m in cash and as much as $130m over five years.
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