ANGLO American plans to split its subsidiary Kumba into two as part of South Africa's biggest ever black empowerment deal.
Kumba will be carved into a pure iron ore business and a separate coal and heavy minerals business.
Anglo American will retain a 54% stake in the iron ore business to be named Sishen Iron Ore, and a 17% stake in the coal and heavy minerals business, which is yet to be named but which will have a black empowerment group owning a 55% stake.
Both companies will be world-class players in their respective industries.
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