De Beers' Owner Anglo American Warns Of Dividend Cut

Mining and Exploration
23/09/2015 10:07

Anglo American CEO Mark Cutifani has warned investors at recent private meetings that the diversified miner may hack back its $1 billion-a-year dividend if raw material prices do not make a comeback in the coming months. Commodity prices have plunged due to the global slowdown, particularly the slowing Chinese economy. Although diamonds were a success story for Anglo American in 2014, De Beers has had to cut prices in the face of dropping demand from sightholders.