By Felix Njini and Clara Denina
Anglo American is working to maximise its value should any new M&A suitor come along and anticipates significant progress this year on a keenly awaited spin-off of its De Beers diamond business, CEO Duncan Wanblad said on Monday.
The London-listed miner in May rebuffed a $49 billion hostile bid from the world’s biggest miner BHP, which was focused on Anglo’s copper assets.
Since then Anglo, whose stock was the best-performing of the major miners in 2024, has streamlined the company by selling off coal assets and agreeing to separate out its platinum business.
It has still to find buyers for its nickel operations in Brazil and partners for a UK fertiliser project that needs massive amounts of capital to bring it into commercial production.
But spinning off De Beers could be a major boost for valuation, given weak demand for diamonds.
Anglo said in
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