Reuters reported that mining group Anglo American will reveal this week billions of pounds of cuts from its spending in 2009.

As per report, Anglo American is also likely to announce plans to delay work on a number of large projects that may affect thousands of jobs, according to a source close to the company cited in the article.

A spokesman at Anglo American said that "We are conducting a review of all our capital expenditure and will announce the results in due course." He added that this was likely within a week or two.