Anglo American to sell De Beers, Amplats in historic restructure.
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GUEST – David van Wyk, mining analyst and lead researcher at the Bench Marks Foundation.
Anglo American Plc will exit diamond, platinum and coal mining in a massive restructuring designed to fend off a takeover approach from rival BHP Group and turn the 107-year old miner into a copper giant.
Anglo said Tuesday that it plans to demerge or sell its De Beers diamond business, separate its Anglo American Platinum Ltd. unit and sell its coking coal mines in Australia. It will also slow spending on a giant fertilizer mine in England. That will leave a much simpler company focused on iron ore and copper, a key metal for the energy transition.
Anglo American Plc will exit diamond, platinum and coal mining in a massive restructuring designed to fend off a takeover approach from rival BHP Group and turn the 107-year old miner into a copper giant.
Anglo said Tuesday that it plans to demerge or sell its De Beers diamond business, separate its Anglo American Platinum Ltd. unit and sell its coking coal mines in Australia. It will also slow spending on a giant fertilizer mine in England. That will leave a much simpler company focused on iron ore and copper, a key metal for the energy transition.