Anglo Sells Majority of its Hulamin Stake

22 July 2009 (Last Updated July 22nd, 2009 18:30)

Mining giant Anglo American said it has brought down its shareholding in South African aluminium producer Hulamin to 17% from 44% for $93m. Anglo said the sale was part of its strategy to focus on its core mining activities. Anglo sold 61 million shares to Coronation Asset Man

Mining giant Anglo American said it has brought down its shareholding in South African aluminium producer Hulamin to 17% from 44% for $93m.

Anglo said the sale was part of its strategy to focus on its core mining activities.

Anglo sold 61 million shares to Coronation Asset Management at R12 a share.

The company also intends to explore options for unlocking value from its remaining shareholding.