Anglo American is knocking itself into shape. About time, chorus investors and Xstrata, which walked away from its proposed nil-premium merger of equals last week. But its approach confirmed what Anglo chief executive Cynthia Carroll must have gleaned from an internal review: the group could never be the same again. Hence her move to strip out another tier of management clutter, restructuring the remainder along commodity and geography lines and adding non-core metals assets to Tarmac on the “for sale” list.