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Miner selling off diamond, platinum, coal, nickel assets

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Restructuring accelerated by failed BHP bid

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Simpler portfolio will create more resilient business -

CEO

By Nelson Banya

Oct 3 (Reuters) - Anglo American Plc ( AAUKF ) will not be

an "inevitable" takeover target after its unbundles its diamond,

platinum, nickel and coal assets, CEO Duncan Wanblad said on

Thursday.

The mining giant is restructuring its business to mainly

focus on energy transition metal copper after fending off a $49

billion takeover offer from bigger rival BHP Group ( BHP ) in

May.

Some analysts have said Anglo's simplified portfolio could

make it an even more compelling acquisition target for suitors

drawn to its copper assets.

Wanblad addressed questions about another potential bid in a

virtual address to a mining conference in Johannesburg.

"I don't believe it's inevitable at all. We will be a

viable, stand-alone company in the market," Wanblad said.

"I cannot say what other people are going to do from a

corporate action point of view. I don't really care about that,

what I care about is delivering on the strategy to create value

not only for shareholders but more importantly for all

stakeholders."

Copper will make up 60% of Anglo's business, Wanblad said,

after the miner divests from diamond giant De Beers, Australian

steelmaking coal assets, nickel mines in Brazil, as well as

Anglo American Platinum (Amplats) in South Africa.

Apart from its copper assets in Chile, Anglo will also

retain iron ore mines in South Africa and Brazil, as well as the

Woodsmith fertiliser project in the United Kingdom.

Wanblad said Anglo could potentially offer one more parcel

of shares in Amplats after it sold 5.3% of the company's shares

last month to institutional investors as it seeks to carefully

manage its divestment, scheduled for completion by the first

half of 2025.

"There might only be one more opportunity to do it and if we

did it, it would be completely dependent on markets at the time

of that opportunity," Wanblad said.