http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.09Change: -0.35
R/$ = 11.59Change: -0.15
Au 1281.14 $/ozChange: 2.33
Pt 1259.50 $/ozChange: 11.00
 
 
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 Letters 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|Mining|One Steel|OneSteel|Projects|Africa|North America|South America|Australia|South Africa|USD|Steel|Steel Balls|Cynthia Carroll|Geoff Plummer
Gold|Africa|Copper|Mining|Projects|Africa||||Steel||
gold|africa-company|copper|mining|one-steel|onesteel|projects|africa|north-america|south-america|australia-country|south-africa|usd|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 Stainless Steel News
German steelmaker Salzgitter's Europipe joint venture has been told to halt production of tubes for the scrapped South Stream pipeline project until further notice, with the suspension to hit its earnings. A statement from Salzgitter on Tuesday said the impact is...
Italy's energy watchdog has extended to January 31 an emergency gas supply scheme that had been due to end on Monday, which allows troubled steel producer Ilva to keep its doors open. Oil major Eni said earlier this month the agreement under which it supplied gas to...
Give its large mining potential, African economies are expected to play an increasingly important role in producing raw materials for the production of steel. The Economic Cooperation and Development (OECD) said it was expecting growth from  South Africa, in...
More
 
 
Latest News
Thabo Kgogo
Updated 3 hours ago Dual-listed oil and gas company SacOil has completed Phase 1 of the field development operations at the Lagia oilfield in Sinai, Egypt. The South African-based independent company, through its subsidiary Mena International Petroleum Company, also completed hydraulic...
Updated 3 hours ago The City of Johannesburg, whose environmental policy innovations include an integrated waste management plan that covers all relevant environmental legislation, has been named the country’s most environment-friendly metropolitan municipality in the Department of...
Updated 3 hours ago The South African Renewable Energy Council (Sarec) has welcomed the conclusions of the Council of Scientific and Industrial Research’s (CSIR’s) ‘Financial benefits of renewables in South Africa in 2014’ report, published on January 21. “The results of this study...
More
 
 
Recent Research Reports
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
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.
 
 
 
 
 
This Week's Magazine
BRUCE BRADFORD The 3D printers have a clear upgrade path to eventually print in wood, ceramics and metal-alloys
Three-dimensional (3D) printers being sold in South Africa by electronics distributor Rectron currently print in two types of plastic, but have a clear upgrade path over the next five years to eventually print in wood, ceramics and metal-alloy materials, says Rectron...
The world’s two dominant commercial aircraft manufacturers, Airbus of Europe and Boeing of the US, both recently announced that they had made record aircraft deliveries in 2014. Boeing set a global record for the industry with 723 commercial aircraft delivered, while...
The Western Cape is shifting further into the renewable-energy space with the official opening of a factory specialising in solar inverters, a key component of solar photovoltaic (PV) plants. The investment in the manufacturing facility in Cape Town aims to boost the...
Business Leadership South Africa (BLSA) last month welcomed Cabinet’s establishment of a technical team war room to undertake various interventions to improve electricity supply security over the short- and medium-term, but added that the private sector also had a...
Despite a rapid rise in mobile connections and the economic and social benefits of such connectivity, more than half of the world ended 2014 unconnected. For this reason, industry commentators believe the biggest impact of mobile technology is still to come –...
 
 
 
 
 
 
 
 
 
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