Johannesburg - Global miner Anglo American on Tuesday announced a suspension of its dividend and the sale of its iron ore subsidiary, Kumba Iron Ore, in response to the falling prices of raw materials.
The metal-price rout has severely impacted the results of the past year.
Read: Moody's cuts Anglo's debt rating
In a statement, Anglo American reported an operating profit of $2.2 billion in 2015 against $4.9 billion in 2014 , a decline of 55 percent.
Moody's lowered the company’s credit rating on Monday, citing the deterioration in markets and doubts about its ability to reduce its debt.
REUTERS