[miningmx.com] – ANGLO American CEO, Mark Cutifani, said he would double the UK-listed group’s profitability after restructuring it which would include divesting of assets that are not performing well enough.
In an interview with Bloomberg News, Cutifani said: “A company like ours should be delivering 20% return on capital through the cycle. We haven’t put a time on that, but we believe 20% is doable.’
Of the 69 assets owned by Anglo American, 31 are delivering only 2% of earnings before interest and taxes, Cutifani said. Commenting on under-performing assets, he said: “We told them if you can’t deliver, you won’t survive in the portfolio’.
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