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Anglo Chief Fell Victim to Cost Overruns

Wall Street Journal Original article ›

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Cost overruns on large projects and the change in management at Anglo American. Cynthia Carroll, the current CEO resigned after coming under strong criticism for continuing to push mega mining projects like the Minas Rio iron-ore project in Brazil with a cost of about $10 billion. That project went over twice its estimated value and was 3 years behind schedule. Costs to develop mines are increasing just as iron or prices are falling with lower demand resulting in increasing scrutiny over projects.

Anglo American performance

09/21/2012

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Anglo American to Slash Assets, Cut 85,000 Jobs

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Anglo American’s Overhaul: Dire Straits in Mining

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Anglo Chief Fell Victim to Cost Overruns

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