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Anglo CEO still sees future in Africa despite shrinking footprint
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Anglo CEO still sees future in Africa despite shrinking footprint
Oct 8, 2025 3:13 AM

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.

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