Has Anglo American Found Something Big in Brazil?
- CEO hints at interesting deposit in meeting with analysts
- Copper is a hot asset for miners as demand expected to climb
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Anglo American Plc’s chief executive officer was being a little cryptic with investors on Thursday, but the message was clear: the company might have found an exciting copper deposit in Brazil.
CEO Mark Cutifani briefly flagged a 19,000-square kilometer piece of land (an area about the size of Israel) that the miner has pegged in Brazil, where it’s looking for copper. When pushed by a Morgan Stanley analyst for more details, he hinted that there was something interesting to be found.