• Wealth and poverty

    True riches would be to create a safe and satisfied community for all South Africans.

  • SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

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Anglo American shares slide

Jan 16 2013 10:57
Reuters
AngloGold Ashanti

Amplats miners. (Sapa)

Company Data

KUMBA IRON ORE LIMITED [JSE:KIO]

Last traded 126
Change 1
% Change 1
Cumulative volume 438996
Market cap 0

Last Updated: 25-07-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLO AMERICAN PLATINUM LIMITED [JSE:AMS]

Last traded 388
Change -2
% Change 0
Cumulative volume 278982
Market cap 0

Last Updated: 25-07-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 146
Change 1
% Change 1
Cumulative volume 2080939
Market cap 0

Last Updated: 25-07-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Anglo American [JSE:AGL] shares are down 4% in early trade, hit by worker unrest at its platinum mines which analysts warn could hamper an overhaul effort aimed at reversing losses there.

Anglo laid out a blueprint for its Anglo Platinum [JSE:AMS] arm on Monday, but the plan to close two mines and sell one could hit 14 000 jobs, and has been met with resistance from both the government and unions.

Anglo's Kumba Iron Ore [JSE:KIO] unit has separately warned its 2012 profit likely fell by a third, hit by lower prices and an illegal strike. 

"We are of the view that the conclusion of the Anglo Platinum review may leave investors unimpressed, and we think that the discontent of the South African government and other key stakeholders is likely to undermine the magnitude of Anglo Platinum's restructuring," Societe Generale says in a note, downgrading Anglo to sell from hold.

At 08:40 GMT, Anglo shares were down 3.95% at 1,883.5 pence, underperforming a 1.6% drop in the broader mining sector.  

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