BHP, Anglo American said to seek buyer for manganese assets

|About: BHP Billiton Limited (BHP)|By:, SA News Editor

BHP Billiton (NYSE:BHP) and Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) are in talks to sell their jointly owned portfolio of manganese assets in South Africa and Australia, WSJ reports.

The assets include two mines in South Africa, one in Australia, and processing plants in both countries; BHP owns 60% and Anglo 40% of the operations, which analysts have valued at ~$1.33B.

Manganese is a key alloy ingredient in the production of stainless steel but it is only a niche business for the big miners; global trade in manganese totals ~$3B/year, 2.5% of the equivalent figure for iron ore.