#Anglo overhaul brings opportunities for acquisitive #RioTinto
A radical restructure of diversified #Miner #AngloAmerican will see 85,000 jobs cut globally and builds on an earlier decision to shed a number of #Australian coal assets.
The extraordinary reduction in headcount at Anglo is greater than the entire workforce of #BHP Billiton, and the company also plans to shed 35 of its mines in a bid to focus on a smaller, more profitable core.
The mass shrinking, which #Anglo’s chief executive #MarkCutifani stressed was not a ‘fire sale’, could be nicely timed for #RioTinto which revealed last week that it may make an acquisition while asset prices are low.
Read more: http://www.smh.com.au/business/mining-and-resources/anglo-overhaul-brings-opportunities-for-acquisitive-rio-tinto-20151208-glivz4.html#ixzz3tqYmdy69