The 13-member FTSE 350 Mining Index declined 3.7 percent. Anglo, hosting an investor day on Dec. 8 to update shareholders on its plans, is down by two-thirds this year. A worker walks past a board outside Anglo American offices in Johannesburg. REUTERS/Siphiwe Sibeko Investec and HSBC Holdings Plc are among banks that expect Anglo to cut or scrap its dividend. HSBC said on Wednesday that even after cutting costs and potentially scrapping its payout to shareholders, the mining company will continue to burn through cash.