30th Jun 2014 05:57
LONDON (Alliance News) - Anglo American PLC has put up some of its platinum mines in South Africa up for sale in order to dispose of underperforming assets as part of a GBP2.35 billion clearout, according to a report in the Sunday Times.
The newspaper reported that the Australian mining company has put some of its historic South African platinum mines up for sale as part of a company-wide clearout led by Chief Executive Mark Cutifani.
Earmarked for disposal are the company?s oldest and deepest shafts in the impoverished mining region of Rustenberg, South Africa, some of which have been in operation since the 1950s, in a move that demonstrates the CEO's willingness to break with legacy operations, said the Sunday Times.
South African investment bank, RMB, has reportedly been lined up to run the auction.
http://www.thesundaytimes.co.uk/sto/business/Industry/article1428092.ece
By Alice Attwood; [email protected]; @AliceAtAlliance
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