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EVEN for a company that once had the global monopoly on diamond production during almost a century of all but constant expansion, the collapse in commodities prices is proving too much. Anglo American, a conglomerate spanning everything from brewing, publishing and gold mining during its peak in the early 1990s, will shrink beyond recognition after chief executive Mark Cutifani announced an eyewatering package of asset sales, mine closures and job cuts. – Bloomberg

THE Public Investment Corporation, a shareholder in Anglo American, yesterday said it backed the diversified miner's plan to put the brakes on dividend payouts amid the widespread condemnation plans by the firm to cut jobs. – Dineo Faku