http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.18Change: 0.04
R/$ = 11.25Change: -0.03
Au 1209.65 $/ozChange: -8.32
Pt 1302.00 $/ozChange: -7.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Nov 15, 2010

Anglo sells steel units to Australia’s OneSteel for $932m

Back
Gold|Africa|Copper|One Steel|OneSteel|Projects|Africa|North America|South America|Australia|South Africa|USD|Mining|Steel|Steel Balls|Cynthia Carroll|Geoff Plummer
Gold|Africa|Copper|Projects|Africa||||Mining|Steel||
gold|africa-company|copper|one-steel|onesteel|projects|africa|north-america|south-america|australia-country|south-africa|usd|mining|steel|steel-balls|cynthia-carroll|geoff-plummer
© Reuse this



Mining major Anglo American (Anglo) would sell its Moly-Cop and AltaSteel to Australian company OneSteel for $932-million.

The two businesses, which are part of Anglo's Scaw Metals, make steel balls and rods that are used to grind up copper and gold ore in the huge rotating mills of mining plants.

Anglo CEO Cynthia Carroll said that following the $1,3-billion divestment of the group's zinc portfolio in May 2010, the sale of Moly-Cop and AltaSteel represented further strategic progress as the group continued to focus on its core commodity businesses and on the delivery of its major near-term growth projects.

Anglo stated that it would continue to progress its divestment programme announced in October 2009, in a manner and to a timetable that would maximise value to its shareholders. The programme included the sale of the Scaw Metals Group based in South Africa.

OneSteel CEO Geoff Plummer said that the deal was a significant milestone for the company and positioned it as a global player in grinding media with participation in the world's largest and most attractive mining consumables markets, as well as providing OneSteel with a platform for future growth in mining consumables.

The acquisitions would provide OneSteel with a further footprint in Australia, South America and North America, and would see it evolving into the world's largest maker of steel grinding material used by mining companies.

 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Metals News
JSE-listed Evraz Highveld Steel & Vanadium, which is undergoing an ownership change, confirmed on Monday that Johan Burger had been appointed as its new CEO with effect from October 1, 2014, following on the resignation of Jan Valenta. Valenta was appointed CEO in...
KEY SERVICES PROVIDER DRS Mozambique has been rendering site-wide smelter services to the aluminium industry, which include pot delining and relining
Owing to the continuous expansion of its specialised services in the aluminium industry, local furnace and industrial services company Dickinson Group of Companies has registered a 60% increase in business from this industry in the past 20 years. “We can now offer...
INDUSTRY DECLINE Without significant amendments to the preferential policy, the aluminium and scrap beneficiation industry will continue to decline
The secondary aluminium industry has remained uncompetitive in the world market of beneficiated aluminium products, despite the directive of the preferential pricing on scrap metal, issued by the Department of Economic Development in September last year, Non-Ferrous...
More
 
 
Latest News
Updated 36 minutes ago As part of new listing requirements implemented by the JSE on Tuesday, companies listed on select international bourses will now be able to fast-track their secondary listings on the JSE. The local bourse announced to the market in August that it had made global...
Updated 36 minutes ago Mauritius has been ranked first in the Ibrahim Index of African Governance (IIAG) 2014 for the eighth consecutive year, while South Africa ranked fourth overall and third in the region. Among the 52 countries rated by the Mo Ibrahim Foundation, Mauritius scored the...
Updated 1 hour 19 minutes ago The Companies and Intellectual Property Commission (CIPC) says it is encouraged with the response to its new look and online transaction website. The new website was launched on 17 September, and the commission says it has received both positive and negative feedback.
More
 
 
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
 
 
 
 
 
This Week's Magazine
The South African new vehicle market is likely to reach around 630 000 units in 2014, down from the 650 000 units recorded in 2013, says Toyota South Africa Motors (TSAM) president and CEO Dr Johan van Zyl. Van Zyl is also president of the National Association of...
Efforts by the Kenya government to increase energy generation by 5 000 MW over the next three years received a major boost following the award of a $2-billion contract to build a coal power plant in Lamu.  Despite allegations of irregular tendering process, the...
Using crafty wordplay on a well-known Internet meme, brilliant South African-born US entrepreneur and businessperson Elon Musk announced that Tesla Motors would not initiate patent lawsuits against anyone who, in good faith, wanted to use its technology. Instead,...
August new vehicle sales declined by 1.4%, to 55 722 units, compared with the same month last year. Assisted by the car rental market, the South African new passenger car market, at 37 953 units, contracted by 1 047 units, or 2.7%, compared with August last year.
With South Africans facing the challenge of reducing electricity consumption, the biennial Eskom Energy Efficient Lighting Design Competition, to encourage the integration of energy efficient lighting in architectural, engineering and interior design, received a...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks