Anglo American Group closes office in Mozambique

6 October 2015

Mining group Anglo American closed its office in Mozambique under a cost-cutting plan, which may include the sale of its headquarters building in London, financial news agency Bloomberg reported recently.

Pranill Ramchander, a group spokesman, told the news agency that the board of directors had been examining offices in the countries where it operates, and “by that process we have decided to close the representative office in Maputo.”

In March 2013, the Anglo American group withdrew its offer to buy a stake of 58.9 percent in the mining and metallurgical project Minas do Revuboé, in Tete province, from Talbot Group Investments for US$555 million.

In a statement at the time, the group pointed out that the transaction depended on certain conditions which were not met after nine months of negotiations, so that “it was decided not to proceed with the deal.”

The stake was for sale following the death of the previous owner Australian millionaire Ken Talbot, and the remaining shareholders are Japan’s Nippon Steel and Posco group of South Korea.

The spokesman said, however, that the group intended to be involved in the emerging coal and metallurgical basin of Tete, Mozambique.

The Anglo American group is the world’s largest platinum producer, with 40 percent of production, as well as a major producer of diamonds, copper, nickel, iron ore and coking coal and thermal coal. (macauhub/MZ)

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