Anglo american plc

Mining group Anglo American Plc (AAL.L) (AGLJ.J) scrapped its 2008 final dividend on Friday to conserve cash and said it will cut 19,000 jobs as it posted a 1 percent fall in profit, missing analysts' forecasts.

The world's largest diamond group, De Beers, said its three shareholders have agreed to loan the company $500 million to help it weather the economic downturn, following muted sales in 2008. De Beers Managing Director Gareth Penny said on Friday the global economic crisis was having a negative impact on sales of retail diamond jewelry, liquidity and demand for rough diamonds, which had hurt the ...

Copper rose on Monday after a 6.3 magnitude earthquake hit Chile, the owner of the largest producer of copper in the world.

Gold and platinum prices surged to new records on Friday on deteriorating electricity shortages in South Africa, a top producer of the precious metals, increased the supply demand.

Gold edged higher on Thursday to trade below one-month highs, helped by a record low dollar, but the market was disappointed with the metal's slow upward move.

U.S. coal firm Peabody Energy Corp. raised its bid for Australia's Excel Coal Ltd. by nearly 12 percent to A$2 billion ($1.5 billion), but speculation about a rival offer pushed Excel shares above Peabody's new offer price.

An improving political climate, and the potential for major mineral discoveries, has reawakened interest in Africa among Australian mining companies that have traditionally rated the continent too risky.

Anglo American Plc, the world's third-largest miner, will hand back an extra $5 billion to investors after meeting forecasts with a 44 percent rise in first-half earnings on Friday, lifting its shares 5 percent.