Oct 8 (Reuters) - Anglo American still considers
Africa to be part of its future due to its critical mineral
resources, despite the mining company's recent restructuring and
disposal of assets there, CEO Duncan Wanblad said on Wednesday.
Anglo American has exited its coal and platinum operations
in South Africa, the country where it was founded over a century
ago, and is selling diamond miner De Beers, as it shifts its
focus to copper, a vital metal in the clean energy transition.
Kumba Iron Ore remains as its sole major asset in
South Africa.
Despite those exits, Wanblad said Anglo planned to use South
Africa as a window into the broader African continent's vast,
under-explored mineral resources.
"I look at what the world needs in terms of minerals, I
think Africa is the place to be," Wanblad said at a mining
conference in Johannesburg.
"Hopefully, we'll be as big as we were in Africa in a couple
of years time," he said.
Africa is home to large deposits of copper, cobalt, lithium
and rare earth elements, which are used in solar panels,
batteries and electric vehicles.
After fending off a takeover bid by Australia's BHP
, Anglo American last month announced an agreement to
merge with Canada's Teck Resources ( TECK ) to create a copper
heavyweight.
Wanblad said the diamond market was starting to bounce back
from a three-year price slump, and Anglo was seeing "some real
strategic interest" from potential buyers of De Beers.
De Beers had by June attracted interest from at least six
prospective investors, while Angola's state diamond company
Endiama announced last month it had bid for a minority stake in
the company.
"These are parties that know the industry, that know the
assets, that love diamonds. And that's all very positive,"
Wanblad said.