Anglo says South Africa reorganisation adds sale flexibility

Anglo American said its decision to split some South African assets into a different subsidiary gives it the “flexibility” to dispose of its iron ore and export thermal coal assets should it decide to do so. The split, which was partly announced in February without reasons being given, means that stakes in Anglo American Platinum and De Beers are now held in a unit called Anglo American South African Investments, while another subsidiary, Anglo South Africa Capital Proprietary, keeps the controlling stake in Kumba Iron Ore and the export coal mines.