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Anglo American sees 20% returns after streamlining assets

May 19, 2014 8:48 AM ETAnglo American plc ADR (AAUKY) StockAAUKY, AAUKFBy: Carl Surran, SA News Editor
  • Anglo American (OTCPK:AAUKY, OTCQX:AAUKF) CEO Mark Cutifani tells Bloomberg he will double profitability once he cleans up the company in the coming years, and then he’ll be able to increase it again.
  • Anglo already has identified some of assets it will sell, Cutifani says without elaborating; he has set a goal of improving Anglo’s return on capital to at least 15% by 2016 from ~8% last June, and he’ll consider disposing of any asset that pulls down the average.
  • Anglo plans to cut senior-level jobs at its South African office, according to a local report yesterday.

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