Cutifani Says Anglo American Won’t Sell Stake in Samancor Joint Venture

Reuters reported that Mark Cutifani, chief executive of Anglo American plc (LSE:AAL), said his company is not looking to sell its stake in the Samancor manganese joint venture with BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT).

Cutifani also said Anglo American Platinum Ltd.’s (OTCMKTS:AGPPY) South African platinum assets likely won’t be sold by 2015.

As quoted in the market news:

‘I know (Amplats CEO) Chris (Griffith) has said he can get it done by the end of 2015, that may be a little bit optimistic,’ Mark Cutifani said in a call with journalists.

He was referring to the decision to sell its platinum assets announced earlier this week by Anglo’s subsidiary Anglo American Platinum (Amplats).

‘Certainly that would be a target that we want to try and achieve, but I wouldn’t hardwire that because quite simply there are always a few things that are quite complex,’ Cutifani said.

Click here to read the full Reuters report.