In his first investor day since buying Xstrata last year, Glencore’s boss highlighted his company’s spread of commodities and took aim at the expansion strategies of Rio Tinto and BHP Billiton.
Anglo’s boss Mark Cutifani says company needs to find an extra $2 billion of earnings before interest and tax to meet the return on capital target set for 2015.
Whether it’s the development of a new mine in Central Africa or fracking in the English Home Counties, the scope for complex and sensitive human rights issues to arise is very real.
The buyback was revealed in the company’s annual report, which showed improved operating profits in spite of difficult market conditions in the last two years.