Business
Updates on Post Offer Intention Statements
Anglo American plc is providing updates on its portfolio simplification strategy as required by the City Code on Takeovers and Mergers. The company has confirmed compliance regarding its nickel and Anglo American Platinum businesses, with the nickel sale to MMG Singapore Resources for up to US$500 million awaiting final regulatory approval, and the demerger and subsequent sale of its Anglo American Platinum interest generating ZAR44.1 billion (approximately US$2.5 billion). Updates on steelmaking coal indicate the sale of a 33.3% interest for A$1.6 billion (approximately US$1.0 billion) is complete, while a separate agreement for the remaining business with Peabody Energy for up to US$3.775 billion has been terminated, leading to a re-initiated sale process. Progress on the divestment or demerger of De Beers continues, and the Woodsmith project's development pace has slowed, with forecast capital expenditure for 2025 at c.$0.3 billion. Disclaimer*
About this update from Anglo American Plc
[{"type":"text","content":"\n\nAnglo American plc\nRegistered office: 17 Charterhouse Street, London EC1N 6RA\nRegistered number: 3564138 (incorporated in England and Wales)\nLegal Entity Identifier: 549300S9XF92D1X8ME43\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\nTHE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO THE REQUIREMENTS OF RULE 19.6(B) AND RULE 19.6(C) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\").\n \n19 December 2025\n \nRule 19.6(b) update and 19.6(c) confirmation with respect to post-offer intention statements made by Anglo American plc in May 2024\n \nOn 14 May 2024, Anglo American plc (\"Anglo American\") announced that it was accelerating the delivery of its strategy to unlock significant value from its portfolio and accelerate the delivery of consistently stronger shareholder returns.\n \nAnglo American announces today that, in accordance with the requirements of Rule 19.6(b) of the Code, it is providing the following update in relation to Steelmaking Coal, De Beers and Crop Nutrients, and in accordance with the requirements of Rule 19.6(c) of the Code, it has confirmed compliance in writing to The Panel on Takeovers and Mergers in relation to Nickel and Anglo American Platinum, in each case regarding the relevant post-offer intention statements detailed in its announcement of 14 May 2024 (the \"2024 Announcement\") in respect of the matters set out below.\n \nRule 19.6(c) confirmations\n \nNickel\n \nAnglo American announced on 18 February 2025 that it had entered into a definitive agreement to sell its nickel business to MMG Singapore Resources Pte. Ltd, a wholly owned subsidiary of MMG Limited, for cash consideration of up to US$500 million.\n \nAnglo American is working to finalise the last outstanding regulatory approval with the European Commission required in order for the transaction to complete. \n \nAnglo American Platinum\n \nAnglo American announced on 2 June 2025 that it had completed the demerger of c.51% of its interest in Anglo American Platinum (now renamed Valterra Platinum Limited), resulting in Anglo American holding only a remaining 19.9% interest in Valterr...