IPO Likely For Some Platinum Mines. Anglo Says

IPO Likely For Some Platinum Mines. Anglo Says

From MineWeb.


Anglo American, which is listed in London and Johannesburg , is looking to divest some of its costliest platinum mines in South Africa and is considering whether to list or sell them.

The CEO of Anglo American said Thursday that a listing of some South African platinum mines was the most likely route to divesting those assets.

“We are still in negotiations with some parties regarding a potential trade sale but from our point of view, at this stage, the preferred option is an IPO,” Mark Cutifani, Anglo American’s CEO, said at the company’s annual general meeting.

Several of Anglo American’s platinum assets including some in Rustenburg, the epicentre of last year’s five-month strike, have been up for sale as part the global miner’s drive to switch to more mechanized mining.

Read more at MineWeb.