Investec Advises Anglo American on Giving up on Iron Ore

Mining.com reported that international bank Investec said that Anglo American’s (LSE:AAL) should focus on diamond and platinum and should unload its iron ore assets.

As quoted in the market news,

According to Noticias de Mineracao (in Portuguese, subs. required), the FTSE 100 mining group could get close to $4.7 billion if its sells its assets in South African and Brazil. The move could be the steeping stone for Anglo to finally strengthen its balance sheet, reduce the risk profile of the group and potentially enable a substantial re-rating, Investec said in the note.

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