Palabora’s principal asset is a copper mine in South Africa which also produces vermiculite and magnetite and, while studies are under way for a potential extension to the copper mine’s life from 2016 to 2030, the operation is no longer of a sufficient scale to suit Anglo American’s investment strategy. Palabora owns a magnetite stockpile and the future value creation at Palabora is likely to involve the on-site processing and beneficiation of magnetite, an opportunity that Anglo American believes will be best developed under new ownership.
Media
UK
James Wyatt-Tilby
Tel: +44 (0)20 7968 8759
Emily Blyth
Tel: +44 (0)20 7968 8481
South Africa
Pranill Ramchander
Tel: +27 (0)11 638 2592
Investors
UK
Leng Lau
Tel: +44 (0)20 7968 8540
Caroline Metcalfe
Tel: +44 (0)20 7968 2192
Leisha Wemyss
Tel: +44 (0)20 7968 8607
Notes to editors:
Anglo American plc is one of the world’s largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American’s portfolio of mining businesses spans precious metals and minerals – in which it is a global leader in both platinum and diamonds; base metals – copper and nickel; and bulk commodities – iron ore, metallurgical coal and thermal coal. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company’s mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. www.angloamerican.com