[miningmx.com] – ANGLO American was reversing years of ‘self-harm’ with a restructuring programme that offered good value, said Bloomberg News citing a report by Paul Gait of Sanford C. Bernstein.
“Anglo is in the process of “self help,’ correcting five years of ’self harm’ of over-promising and under-delivering when it was led by the previous management,’ said Gait. The company is “presenting the most-compelling restructuring story in the mining space for a long-term value investor,’ he said.
Anglo has dropped 11% in London trading since CEO Mark Cutifani took office. BHP Billiton is down 4.4%. Rio Tinto Group has advanced 7.2%, while Glencore Xstrata has retreated 12%.
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