Now raising intellectual capital

Anglo American clears more clutter


CHILE-CODELCO/ANGLOAMERICANJohn Parker’s appointment as chairman of Anglo American seems to be having the desired catalytic effect – even though the British businessman is barely through the door.

Last month, the mining group disposed of its stake in Africa’s largest aluminium processor, Hulamin for a total of $150 million.

Now it is selling its stake in South African agri-processing group Tongaat-Hulett which could net it around $550 million.

This clears out most of the remnants from Anglo’s past as a diversified industrial holding company. Selling these bits and pieces has been a stated strategic objective for some time – so long as the price was right.