Anglo American PLC plans to cut coking coal output in the coming months as it reviews existing operations and projects in the face of weak prices, high costs and soft Chinese demand,

Mr Seamus French said Chief Executive said “We are going through a planning process where we will adjust to the market conditions and, in the short term, we will cut back. It's times like these that really are the right [opportunity] to reevaluate things.”

He admitted that the market had become over supplied after strong prices at the start of 2011 encouraged miners to ramp up production.

Mr French however said that any cuts would be made on a case by case basis across it operations, with a focus on those where the margins are the weakest.

Anglo American is the world's third largest producer of coking coal.

Source - Market Watch

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