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[Ferro-Alloys.com]
Anglo starts formal divestment of coal, nickel after rebuffing BHP, CEO says
Anglo American is starting a formal process to sell its coal assets and explore options for its nickel operations after fending off a takeover threat from bigger rival BHP Group, CEO Duncan Wanblad said on Thursday.
In between approaches and in a bid to stay independent, Anglo laid out its own radical plan to shrink by divesting its steelmaking coal assets, demerging its South African platinum unit, possibly mothballing its nickel mines and selling or demerging diamonds business De Beers. It also said it would slow down work at its fertiliser project in northern England.
"We are now starting the formal processes for the divestment or the demergers of these businesses," Wanblad said.
"Coal and nickel will be the first and then there'll be the regulatory processes associated with those and then the demerger (of Amplats) and then the De Beers process to follow on completion," he added.
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- [Editor:邢亞敏]
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