Fin24

Anglo seeks iron ore mine acquisitions

2012-03-20 11:25

Perth - Anglo American [JSE:AGL] said on Tuesday it was looking to acquire iron ore assets in Australia and Africa as it strives to increase its footprint in the sector.

"We are on the lookout for value-adding iron ore opportunities," James Harman, head of business development for iron ore and coal for Anglo American, told an industry conference, adding that Australia and Africa were its preferred locations.

Anglo American will be producing around 80 million tonnes of iron ore per year from its existing operations in Brazil and South Africa by 2014, Harman said.