[miningmx.com] – THE divestment of Anglo American Platinum’s (Amplats’) non-core Rustenburg assets was likely to be protracted, said Bloomberg News citing analysts.
“One understands the desire for a clean cut, but I don’t think they’ll get a value that will make them or their shareholders happy with an outright sale — not now anyway,” said Simon Hudson-Peacock, a money manager at Momentum Asset Management. An unbundling or initial public offering “gives them a little bit more time,” he said.
Ben Davis, a mining analyst at Liberum Capital, said the most likely scenario was that Amplats would spin off its assets.
“I certainly won’t hold it against them that they didn’t get the sale away when platinum prices are where they are today,” Davis said. “I don’t regard a listing as a great idea either because I don’t see how anyone could ascribe any real value to it.”
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