Anglo to split Kumba

ANGLO American plans to split its subsidiary Kumba into two as part of South Africa's biggest ever black empowerment deal.

Tim Treadgold

MiningNews.net

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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