Anglo American’s Slash & Burn Plan Rocks Stock Market

2015 will be the year big mining companies want to forget.

Anglo American Plc AAUKY , the world’s fifth-biggest miner by revenue, shocked financial markets Tuesday with a radical new strategy of asset sales and job cuts, only four months after unveiling its last rescue plan.

“The severity of commodity price deterioration requires bolder action,” Anglo’s chief executive Mark Cutifani said.

That bolder action included scrapping dividends for 2016...

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