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Anglo American no longer selling assets in South Africa

An executive at Anglo American Plc's South African unit flagged the possibility of asset acquisitions in the country, Bloomberg News reported Feb. 5.

"We no longer have any 'for sale' sign," said Norman Mbazima, deputy chairman of of the company's South African unit, adding there was a possibility that the company will invest in the country.

Mbazima, however, said that any acquisitions would have to be competitive, and deliver the right return on investment.

After a collapse in commodity prices in 2015, the miner off-loaded some coal and platinum assets. However, with stronger-than-expected commodity prices, Anglo called off its asset divestment plans that would have trimmed its global business to platinum, copper and diamonds.

"We like everything that we are in right now," the executive said. "If there are opportunities to expand in those, we would."

"We have no intentions of spinning off Anglo Platinum to a localized company," he added, commenting on Anglo's platinum unit.