Anglo American slashes dividend after first-half earnings fall 28%

Global miner Anglo American slashed payouts to shareholders after earnings for its first half fell 28% due to lower production and higher costs.

Anglo joins rival miners Rio Tinto, and Freeport-McMoRan in reporting a profit slump, partly blaming a tight labour market, supplychain snags and inflationary pressures.

Anglo declared an interim dividend of $1.24 per share, down 27% from last year’s $1.71 per share payout.