http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.17Change: 0.03
R/$ = 11.07Change: 0.01
Au 1238.28 $/ozChange: -4.47
Pt 1258.00 $/ozChange: 3.00
 
 
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)
 
 
 
 
 
 
 
 
 
Latest News
Total CEO Christophe de Margerie
Updated 15 minutes ago The CE of French oil major Total, Christophe de Margerie, was killed when a business jet collided with a snow plough during takeoff at Moscow's Vnukovo International Airport, the company and airport officials said. The collision occurred late on Monday, just minutes...
A former employee of the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) and his accomplice have each been sentenced to 20 years imprisonment after being found guilty of fraud by the Specialised Commercial Court, in...
The Richards Bay Bulk Terminal, in KwaZulu-Natal, loaded 1.49-million tons of cargo in September, exceeding its monthly target of 1.32-million tons, Transnet Port Terminals (TPT) said on Monday. TPT said the reaching of vessel targets ahead of deadline created...
More
 
 
Recent Research Reports
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.
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.
 
 
 
 
 
This Week's Magazine
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
IAN EVANS AirWatch file synchronisation and sharing system was initially designed for a large airline company
Effective file synchronisation and sharing across an organisation’s structures can provide the basis for robust mobile-device and document management while maintaining proper backup, version control and content distribution. These are the lessons learned by complex...
Hotel group Carlson Rezidor currently holds the largest hotel pipeline in Africa with 30 hotels and 6 300 rooms under development. The hotel group develops and operates Radisson Blu in the upper upscale segment and Park Inn by Radisson in the mid-market segment. With...
 
 
 
 
 
 
 
 
 
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