Anglo American intends to restructure its 107-year-old company significantly in order to repel repeated takeover attempts from mining rival BHP Group, including the spin-off of its highly valued De Beers diamond division. To “improve strategic flexibility,” the British miner stated in a statement on Tuesday that De Beers might be divested or combined.
Following an asset evaluation in 2023, it also intends to divest its coal-based steelmaking, nickel, and platinum businesses as part of an expedited strategic revamp. By 10:10 a.m. London time, the company’s shares had dropped 3.2%.
Source (CNBC)
