Anglo American Plc, which is seeking to offload its iron ore, coal and manganese operations in South Africa in a bid to reduce debt, is leaning toward grouping the assets into one listed entity instead of selling them off piecemeal, Bloomberg News reported Dec. 8, citing people familiar with the matter.
The diversified miner, however, plans to retain the Venetia diamond mine and some platinum mines including Mogalakwena.
Any plan to sell these assets as a package would require the support of the majority of its investors, one source said.
Alternatively, the company may pursue the divestment on a piecemeal basis, a route the miner initially preferred.
"We continue to work through all the various options for divesting the thermal coal and Kumba iron ore assets in South Africa, which may include packaging them for sale to create a new South African mining company," Anglo said in an emailed statement.