, Columnist
A Mining Giant Returns From the Dead
Anglo's dividend is good, but South Africa remains a problem.
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To those unfamiliar with Anglo American Plc’s share price collapse in 2015, it might seem strange that a company in control of one-third of global rough diamond production1501075002657 couldn't spare a dime for shareholders.
On Thursday, chief executive Mark Cutifani tried to turn a page on that dark period of routed commodity markets by reinstating Anglo's dividend. That's six months earlier than expected. No question, the payout -- 40 percent of underlying earnings -- is positive, but it may not be enough to close a large valuation gap with peers.