Data provided by iNet BFA
Loading...
See More

Anglo and Rio to sell Palabora stake

Sep 05 2011 08:32 I-Net Bridge

Related Articles

Anglo stops coal operations

Upbeat Anglo ups profit 38%

Anglo in 15 000 jobs pledge

Anglo: Nationalisation not the way to go

Anglo: Eskom may run out of coal

 

Johannesburg - Resources giants Anglo American [JSE:AGL] and Rio Tinto plan to sell their combined 74.5% stake in Palabora Mining Company [JSE:PAM], the owners of South Africa's largest copper mine.

Palabora said in a statement to the JSE on Monday that its copper operation was not of a scale to suit Rio Tinto or Anglo American's investment criteria.

The effective interests of Rio Tinto and Anglo American in PMC are 57.7% and 16.8%, respectively.

"Rio Tinto has initiated a commercial process to sell its shareholding and Anglo American will participate in that process," the company said.

 
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

No more nice-to-have shopping sprees

Fin24 user Asia writes how she managed to rehabilite herself from splurging on feel-good iitems and keep clean from the bondage of lifestyle debt.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...