Anglo is not going anywhere, says CEO
CEO Mark Cutifani says the producer has no intention of selling assets in SA, and that government's policy framework is moving in the right direction
Anglo American has no intention of selling South African assets and, while welcoming the improved Mining Charter, CEO Mark Cutifani said the industry would come up with innovative suggestions to make it more palatable to investors, communities and labour. Anglo’s South African assets, ranging from the most profitable platinum mine in the world, a large new diamond mine and an iron ore cash machine to coal and manganese operations, have long been the source of speculation about whether they should remain in the company. Some analysts have suggested that they weigh on the London-listed company’s share price because of the regulatory uncertainty bedevilling SA’s mining sector, and that a lot of value could be unlocked by selling them. There have been reports that Anil Agarwal, the Indian billionaire who has taken a 20% stake in Anglo through Volcan, a family company, wanted to do a deal with Anglo on its South African assets and the diversified Indian resources company Vedanta Resource...
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