Anglo’s potential PGM dilemma
Amplats is scheduled for unbundling, but is it perhaps worth keeping?
Anglo American’s restructuring has lift-off. Despite doubts over its complexity, the group has sold its Australian coal mines for $4.8bn and last month agreed terms for a diamond sales contract with Botswana that boosts the chances of selling its 85% stake in De Beers — the trickiest part of this corporate riddle.
Sandwiched between these events is the unbundling of Anglo’s stake in Anglo American Platinum (Amplats) which was reduced last year to 66.7% after two share placements worth R16.8bn. The expectation is that the big unbundle will be in April or May. A detailed schedule may be announced at Anglo’s full-year results, scheduled for February 20...
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