Comments on: Anglo American teeters on the brink

By: Agen Terpercaya

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By: Christopher Kuntz

Christopher Kuntz — Thu, 14 Jan 2016 15:54:28 +0000

Rather fascinating. I went to some operating mines in South Africa in the early 1990’s……..times were good. This isn’t just about South Africa though – BRICS will be hit hard……..and quite frankly all G20 countries will be affected. Maybe it is time for a global restructuring to keep wages, innovation, profits………all in line with global demand. Mining is cyclical – more than one person has commented on this.

By: jonboy3345

jonboy3345 — Fri, 08 Jan 2016 22:58:48 +0000

Brings back memories of a Carol King hit song….

By: Pyrope

Pyrope — Fri, 08 Jan 2016 17:46:21 +0000

In reply to s dykes. Absolutely spot on. I've said it before and it needs saying again, the price of many commodities isn't spectacularly low when you look at their long term (50-70 year) averages. However, people five years ago seemed to think that the bubble pricing then abounding would last forever, that's why they decided to call it a 'supercycle' and ignored the fact that it had all the hallmarks of a classic speculation-driven investment bubble, supercharged by QE. I remember laughing out loud in a presentation in 2010 when one particular company was bragging about their wondercrump new prefeasibility study that showed they could extract gold for 'only' $1500/oz. They were fools then, and the folks who threw money at them were merely fools following the fools. Long-term, true consumption demand will settle itself back into sane territory in time, and then people will find that those who knew how to make money in the 1990s will again be the ones to invest in.

By: Steve

Steve — Fri, 08 Jan 2016 15:11:25 +0000

Arrogance will always undermine any effort. It was just a matter of time. Besides, in todays environment companies need to be nimble and quick on their feet. There are a few of these old battleships still around… but their days are numbered.

By: Nick

Nick — Fri, 08 Jan 2016 11:26:31 +0000

AAC should have been placed in a better position than it currently is quite a while ago. It used to be run by people with foresight and imagination. The changing tides may once again claim a mining industry scalp – this time a big one – but let’s hope something can be done.

By: piet

piet — Fri, 08 Jan 2016 09:36:11 +0000

Said long ago that the CEO will leave Anglo as in tatters as he left AGA when he was appointed…….. The downturn just hastened it. The Company is not run by people with courage and passion for what they do but run by scared pension seekers protecting themselves. Its to late now baby its to late now.

By: s dykes

s dykes — Fri, 08 Jan 2016 08:31:34 +0000

This is no surprise during the high metal price part of the cycle the large mining companies tend to forget about the basics and start buying all sorts of medium to high cost producers in a race to add reserves to the bottom line, no matter the costs. They forget the cyclical nature of the mining business. Instead they should concentrate on low cost producers that are still profitable in these markets. The purge is underway removing the middle to high cost producers that have created the over supply. Mining is cyclical by its very nature and the opportunities are ripe for those who know how to identify those low cost producers.

By: Gary

Gary — Fri, 08 Jan 2016 04:42:23 +0000

Who would have thought that the almighty Anglo American of the 70’s-80’s would have ended up like this?