Anglo weighed down by SA albatross
For some analysts it’s too big — though there’s little point in the miner hiving off its local subsidiaries given how much profit they can make in the good times
17 August 2023 - 05:00
Ever since listing in the UK, Anglo American’s South African links have brought more frowns to investors’ faces than smiles. Back in 1999, they worried over the industrial, property and mineral sprawl of the group. Today, it’s about South African sovereign risk.
Investors, said HSBC in a recent report, are wondering whether Anglo is ripe for a restructure. “Not that old chestnut,” says one Anglo insider about this when approached by the FM. But the bank’s Joburg-based analysts, Shilan Modi and Leroy Mnguni, say the market is concerned about the country’s logistical and energy snafus. ..
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