Staff Writer
Anglo American plc has given an update on its portfolio restructuring plan announced on 14 May 2024, aimed at unlocking value and improving returns for shareholders.
The mining group said it is making progress and meeting its post-offer commitments linked to Nickel, Anglo American Platinum, Steelmaking Coal, De Beers and Crop Nutrients.
Anglo American confirmed it remains on track with the sale of its nickel business.
The company announced on 18 February 2025 that it had signed a binding agreement to sell the business to MMG Singapore Resources Pte. Ltd, a subsidiary of MMG Limited, for cash consideration of up to US$500 million. The transaction is awaiting final regulatory approval from the European Commission.
The group has completed its exit from Anglo American Platinum. On 2 June 2025, Anglo American demerged about 51% of its stake in the company, now renamed Valterra Platinum Limited, retaining a 19.9% holding. That remaining stake was fully sold on 4 September 2025, generating cash proceeds of US$2.5 billion.
Anglo American also provided an update on its steelmaking coal assets. On 29 January 2025, the company completed the sale of its entire 33.3% stake in Jellinbah Group Pty Ltd to Zashvin Pty Ltd for A$1.6 billion, equal to about US$1.0 billion. In November 2024, the group announced an agreement to sell its remaining steelmaking coal assets to Peabody Energy for up to US$3.775 billion. On 19 August 2025, Peabody said it intended to terminate those agreements, leading Anglo American to restart a formal sale process for the remaining assets.
The company said work continues on separating De Beers. In its third-quarter production report released on 28 October 2025, Anglo American said it is following a dual-track process that includes a possible divestment or demerger, alongside a structured sale process.
In Crop Nutrients, Anglo American said development at the Woodsmith project has slowed as the company focuses on key workstreams, including the sinking of a 1.6-kilometre-deep service shaft. In its interim results released on 31 July 2025, the company said forecast capital expenditure for Woodsmith in 2025 remains about US$0.3 billion, slightly above the target set in May 2024. The company said work continues on meeting three conditions before full project approval: completing a full feasibility study, setting a clear path to value syndication, and ensuring enough balance sheet capacity.
Caption
Anglo American plc has provided an update on its portfolio restructuring strategy.
- Photo: Contributed
