courtesy afp28 Sep 2015 13:52
"The challenging environment for mining companies leads us to the question of how much value will be left for equity holders if commodity prices do not improve," Investec said in a research note to clients.
"If major commodity prices remain at current levels, our analysis implies that, in the absence of substantial restructuring, nearly all the equity value of both Glencore and Anglo American (LSE: AAL.L - news) could evaporate."