- Anglo American (AAUKF, AAUKY) CEO Mark Cutifani reaffirms his turnaround plan to bolster the miner's return on equity employed to more than 15% by 2016 from 11% in H1 of this year but expects to face headwinds next year.
- "We have identified ~85% of the incremental EBIT necessary to achieve the level of return we expect from the business, and we are working on the areas where we see additional potential," Cutifani says.
- Anglo has underperformed its diversified mining peers over the past six years; since 2007, it has more than doubled its total capital employed but its rate of return has been cut by more than half.
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