Report: Anglo American may sell $4B worth of platinum mines

|About: Anglo American plc (AAUKF)|By:, SA News Editor

Anglo American (AAUKF, AAUKY) has put some of its historic South African platinum mines up for sale as part of a $4B (£2.35B) clearout led by CEO Mark Cutifani, the Sunday Times reports.

Said to be included in the sale are the company’s oldest and deepest shafts in the impoverished mining region of Rustenberg, South Africa, some of which have been in operation since the 1950s.

Cutifani has set a goal of improving Anglo’s return on capital to at least 15% by 2016 from ~8% currently, and he’ll consider disposing of any asset that pulls down the average, according to the report.