Anglo on track with cost cutting

Mining giant Anglo American is set to deliver on its $2bn (£1.28bn) cost-cutting pledge by next year, according to its chairman Sir John Parker. Parker said progress continues apace on the group’s cost-cutting strategy, after the company recently pumped billions of capital into diamond mining firm De Beers, in which it owns a 45 per cent stake, through a rights issue. Parker joined the firm as chairman last August.