As a dire response to restore itself, Anglo American, one of the biggest mining companies in the world, has announced it would be cutting more than 85,000 jobs within the next couple of years. The mining giant has set in motion a reconstruction plan in which it plans on selling assets, reducing jobs, and suspending dividend payments. Anglo American is not the only mining company in woe, the entire mining industry has had a strenuous year due to the plummeting prices of metals, and decreasing mineral demands from countries like China. Companies like Glencore, Rio Tinto and BHP Billiton have seen drastic falls in their stocks in December, and are beginning to formulate their new plans to overcome future obstacles.
The Mexican mining industry has been struggling to stay afloat. Several factors have affected the industry, such as the over saturation of metals, price dumping, and tax royalties.