More jobs to go at Anglo American

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The mining sector has suffered a dramatic reversal in the global downturn, with the giant Anglo American announcing a further 9,000 job cuts on top of the 10,000 announced by its South African unit, Anglo Platinum, earlier this month.   Anglo also announced a 3 percent fall in 2008 pre-tax profit to $8.57 billion and warned that 2009 would be tough. A spokesman said the job cuts would be across the group's operations, which are mainly in South Africa, South America and Australia.   Rival mining conglomerates Rio Tinto and BHP Billiton announced jobs cuts of their own earlier this year, as the global economic downturn stifles demand for raw materials. Last yearÔÇÖs boom in metal prices and other commodities, sustained by China's once insatiable demand, has to come to end, with no sign as to when things might improve.   "The world economy faces an unprecedented level of uncertainty," said Cynthia Carroll, Anglo's chief executive. "The outlook remains poor in the near term, with expectations for continuing volatility and weakness in commodity prices."     *┬á┬á┬á┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á┬á┬á┬á *