Anglo sells Scaw assets

[miningmx.com] — ANGLO American said it was to sell Scaw Metals assets to Australian steel product manufacturer OneSteel for $932m, a step in an ongoing streamlining program for the mining group.

Anglo said on Sunday it was selling Chile-based Moly-Cop and Canada-based AltaSteel, its grinding media and steel products businesses in the Americas.

“Following the $1.3bn divestment of our zinc portfolio in May, the sale of Moly-Cop and AltaSteel represents further strategic progress as we continue to focus on our core commodity businesses and on the delivery of our major near-term growth projects,” CEO Cynthia Carroll said.