[miningmx.com] – ANGLO American and BHP Billiton were in talks to sell their interests in their respective South African and Australian manganese assets, said the Wall Street Journal citing people ‘familiar with the matter’.
The newspaper said relatively newly appointed CEOs at both companies were under pressure from shareholders to remedy an over-investment in assets with BHP Billiton saying recently it would continue with simplifying its portfolio.
Basing a valuation of the assets from comments by Macquarie analyst, Jeff Largey, the Wall Street Journal said the manganese divestments of Anglo American and BHP Billiton could total $1.3bn.
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