Anglo American says cuts capex on coronavirus as it posts lower first quarter production

LONDON (Reuters) - Global miner Anglo American said on Thursday slashed its capital expenditure guidance for the year by about $1 billion and warned of delays some projects due to coronavirus. The London-listed miner said overall production in its first quarter fell by 4% mainly due to lockdown measures in South Africa which hurt platinum, iron ore and diamond output. The miner said it had identified costs savings of about half a billion dollars in addition to benefitting from weaker producer..