The announcement comes ahead of Anglo American's half-year results release on Friday.
The major iron ore mining subsidiary, which operates in
The subsidiary said its IFRS headline earnings fell 28% to
Kumba said that despite a production increase of 5% to 22.8 million tonnes from 21.6 million tonnes, a 17% fall in export iron ore prices negatively hit its headline earnings.
The subsidiary said that looking ahead, steel fundamentals will remain under pressure as growth in the Chinese economy slows and its export sales for the full year are likely to be in line with 2013 levels.
The news comes a day after
Anglo American also Monday unveiled plans to sell off major platinum mines in
The new divestment programme could cut staff in
The move could represent cuts of a fifth of the company's overall workforce and is a key part of
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