- Anglo American (OTCQX:AAUKF, OTCPK:AAUKY) says it is withdrawing from the Pebble copper project in Alaska, a joint venture with Northern Dynasty Minerals (NYSEMKT:NAK).
- Mark Cutifani, who took charge of Anglo this year following the resignation of Cynthia O’Carroll, wants to purge the miner's pipeline of marginal projects in favor of high-value, low-risk projects.
- Anglo had spent $540M up to the end of June on Pebble, according to NAK, which says it will hold on to the project.
- Anglo says it will take a $300M impairment charge on the withdrawal.