Exxaro may buy Kumba Iron Ore

Algemeen / General

Diversified mining company Exxaro Resources is con-sidering buying assets from Anglo American, its Chief Ex-ecutive said on Thursday 03 March 2016.
Exxaro's CEO Mxolisi Mgojo told reporters and analysts he would consider buying assets from Anglo, which has said it plans to sell its iron ore, coal and nickel units in a sweeping strategic over-haul to cope with a commodities rout.
"As part of looking at our own portfolio, we will determine whe-ther it makes sense and if there is value," said Mr Mgojo.
Financial Director Wim De Klerk said the option to buy Anglo's Kumba Iron Ore unit was a possi-bility.
"We note their announcement and we are partners in Sishen, so we will be considering our options now that we know they are on sale," he said. Reuters