Anglo dips after revealing plan to split
Evening Standard|May 14, 2024
BID target Anglo American today revealed it will exit diamond, platinum and coal mining as part of its most radical overhaul in decades.
Anglo dips after revealing plan to split

The shock plan comes as Anglo battles to convince shareholders of its standalone future, having yesterday rejected an improved £34 billion approach by Australia's BHP.

Anglo believes it can unlock significant value by focusing on a simplified portfolio of "world-class assets" in copper and premium iron ore.

The strategy will see Anglo offload its interest in the De Beers diamonds business and also seek a partner for the vast Woodsmith potash development in North Yorkshire.

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