Is this the first of many., page-10

Another interesting week. Earlier we had Anglo American showing definite signs of distress
"On Tuesday, Cutifani outlined his vision of what Anglo must become to survive this downturn: a company that will be a mere shadow of its former size. The numbers are stark: the workforce will drop to approximately 50,000 once the company’s restructuring is over, down from 151,000 last year.
Anglo is also looking to offload 60pc of its assets – be they mines or smelting facilities – or to close them down if they aren’t making money and a buyer can’t be found. It is looking to slice $3.7bn in costs from the business by 2017. By that same year, its capital expenditure will be 55pc lower than it was in 2014 – a sign that it has all the capacity it needs for the foreseeable future and won’t be chasing further exploration.".
Tomorrow Glencore has its investor day with the distinct possibility of announcing production cuts, may be in Ni. The market awaits with anticipation.