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Anglo to cut ties with Amplats, De Beers in historic restructure
Anglo American today announced a radical restructure – its most far-reaching in decades – in which it would demerge its 79% owned Anglo American Platinum (Amplats) and sell or demerge De Beers, the diamond miner with which it has been associated for over a century. It also proposes the sale of its steelmaking coal assets and the closure or sale of its nickel operations leaving behind a simpler structure consisting of copper, iron ore (including Kumba Iron Ore in South Africa) and its crop nutrient project Woodsmith which it will delay in an effort to improve the balance sheet. Once completed, the group would have ... (full story)