Anglo approach to Minorco
Support truly
independent journalism
Our mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth.
Whether $5 or $50, every contribution counts.
Support us to deliver journalism without an agenda.
Louise Thomas
Editor
Anglo American, the South African mining and financial giant, has approached its affiliate company Minorco about a move which "may have an effect on the share price of each company", the Luxembourg-based mining group announced yesterday. Minorco is 46 per cent owned by Anglo, while the De Beers diamond group holds a 23 per cent stake and the Oppenheimer family controls a further 7 per cent.
Minorco, which mainly runs Anglo's non-African, non-diamond mining operations, has been hit by the slump in world commodity prices. Last month, it warned it was considering cutting its dividend for the first time in its 70-year history.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments