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MINES FOR SALE

1st August 2014

By: Martin Creamer

Creamer Media Editor

  

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Anglo American plc and BHP Billiton plc, two mining giants that owe their current global status to South Africa’s unequalled resource endowment, have ‘for sale’ signs written all over their South African assets. Hot on the news of Anglo American Platinum announcing its intention to sell the Union, Rustenburg and Pandora Joint Venture (JV) operations and possibly also the Bokoni JV platinum operation, the Wall Street Journal and The Australian news houses both headlined BHP Billiton’s intention to get rid of two manganese mines in South Africa’s Northern Cape, owned jointly with Anglo American, which has a 40% share of BHP’s manganese interests. There have for long also been reports suggesting that BHP Billiton wants to jettison its coal mines in Mpumalanga, and now there are also whisperings over the future of some of Anglo Thermal Coal’s assets. No wonder mining headgears across the land are feeling so unwanted, as Mining Weekly cartoonist Darlene sets out to convey in this week’s cartoon.

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