Anglo American posts lower profits and cuts its dividend as China’s economic slowdown hurts demand for commodities
became the latest mining behemoths to post steep falls in profit as China’s economic slowdown dampens earnings.
Just two years ago the mining industry was at its zenith, with booming demand and supply bottlenecks pushing many commodities to all-time highs as the world exited the Covid-19 pandemic. Yet since then, the steam has come out of the global economy and China’s crucial property sector, which sucks up much of the world’s iron ore, has started to wobble.
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