- Anglo American (OTCQX:AAUKF, OTCPK:AAUKY) is down ~3% in London trading following a Bloomberg report that it is scrapping plans to sell some of its biggest assets which had been slammed during the commodities rout but are now profitable amid stronger iron ore and coal prices.
- Anglo now plans to keep assets including a Brazilian nickel mine and the giant Minas Rio iron ore operation, and expects to keep metallurgical coal assets in Australia and its stake in Colombia's Cerrejon coal mine, according to the report.
- Anglo is "trying to milk as much cash as possible" while prices are up, says an analyst at Shore Capital Stockbrokers. "They might be hoping that prices will stay strong for longer than most people think.”