Anglo American finance boss sells again

published 29 June 2011

Anglo American's finance director Rene Medori has pocketed £450,000 from the sale of shares in the mining giant.He offloaded 15,000 at 3,000p a pop, in his second big sale of shares this month. On 7 June he sold the same amount at just over 3,000p a share.Today's sale leaves him with a beneficial interest in 54,000 shares, a spokesman for the company told ShareCast.The shares have eased slightly since 3 May, when he sold 10,000 shares at 3,131p a time, but over the past year shares in the company have rallied sharply in line with the commodity markets.Anglo American accounts for 40% of the world's supply of platinum and also mines for diamonds, copper, coal and other commodities. Revenues and profits soared in 2010 as the company benefited from commodity prices continuing to recover from the 2008/09 financial crisis.However, it was a soggy first quarter of 2011 for the company with rainfall hindering production of iron ore, metallurgical coal and copper, though output of platinum, nickel, thermal coal and diamonds increased. Medori has been with Anglo since 2005.Top Director BuysCanaccord Financial Inc. (CF.) Director name: Mr Charles N BralverAmount purchased: 20,500 @ 764.33p Value: £156,688Pennon Group (PNN) Director name: Mr Christopher LoughlinAmount purchased: 10,929 @ 647.00p Value: £70,711Top Director SellsAnglo American (AAL) Director name: Mr Rene MedoriAmount sold: 15,000 @ 3,000.00p Value: £450,000Carclo (CAR) Director name: Mr Ian WilliamsonAmount sold: 34,500 @ 303.00p Value: £104,535Pennon Group (PNN) Director name: Mr C I J H DrummondAmount sold: 11,876 @ 659.51p Value: £78,323Pennon Group (PNN) Director name: Mr D J DupontAmount sold: 10,996 @ 659.51p Value: £72,520Pennon Group (PNN) Director name: Mr Christopher LoughlinAmount sold: 9,780 @ 659.51p Value: £64,500Red Rock Resources (RRR) Director name: Mr Andrew Ronald McMillan BellAmount sold: 800,000 @ 6.00p Value: £48,000Red Rock Resources (RRR) Director name: Mr Manoli George Richard YannaghasAmount sold: 375,000 @ 5.90p Value: £22,125

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.