Anglo American Platinum Review On Schedule

BusinessDay reported Anglo American Platinum (LSE:AAL,PINK:AGPPY) business review is still on track for completion this year, according to Chairwoman Cynthia Carroll.

As quoted in the market news:

Amplats is 80% owned by Anglo American, of which Ms Carroll is CE. Its mines around Rustenburg and those mines north of the Pilanesberg nature reserve have been shut due to illegal strikes, which prompted the company to fire 12,000 workers and expedite wage talks to end the labour unrest.

Amplats said at the beginning of the year it was conducting a thorough review of its business to optimise its portfolio, which includes 12 mines, 12 concentrators, seven joint ventures — mostly with smaller, empowerment companies — and a workforce of 56,000. The review studies the entire business — from mining to marketing — and nothing is off the table when it comes to the options Amplats may consider, Ms Carroll said. She stressed, however, that Anglo had no intention of selling or spinning out the company.

Click here to read the full Business Day report.