Anglo holding on to Kumba - for now

Mynbou & Nywerheid / Mining & Industry

In February last year, as Anglo announced a dramatic plan to sell more than half its mines, the company said it was looking to exit Kumba as part of a wider retreat from iron ore and coal. Since then, the company curtailed its di-vestment plan after a rally in the commodities it was seeking to exit, helped remove the pressure on its balance sheet.
Anglo is “happy to stick with” its iron-ore and export-.coal mines in South Africa, Chief Executive Officer Mark Cutifani said.