[miningmx.com] – SOUTH32 was open to buying Anglo American’s stake in Samancor, the South African-based manganese producer in which it is the joint venture partner, said Reuters citing an e-mail from a South32 spokeswoman.
“As a JV partner with a deep understanding of their value, we would be a buyer if the price is right,” a South32 spokeswoman said in an e-mailed statement, confirming a report in the Sydney Morning Herald newspaper website, said Reuters.
“We have a good relationship with our joint venture partner and they’ve communicated their intentions,” the statement said. South32 indicated negotiations had already started to acquire Anglo American’s manganese business, said Reuters.
RBC last year valued South32’s stake in manganese at around $1.8bn, though that was before the metal halved in price, said Reuters.
Anglo American said earlier this week it would sell $2bn more in disposals than first flagged in December including its iron ore, coal, nickel and manganese assets.
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