“We are making excellent progress with our simplification of Anglo American to create an exciting and differentiated investment proposition,” Wanblad said. The company aims to double its copper output by the early 2030s, driven by the global demand for minerals that support decarbonization and food security.
Recent Financial Performance and Broader Restructuring
The Jellinbah Group venture generated $779 million in revenue and $373 million in earnings for Anglo American in 2023. As part of its ongoing restructuring, Anglo American has also sold off shares in its Anglo American Platinum subsidiary and announced plans to divest its interest in De Beers, its diamond business in Botswana.
This major corporate shift follows a £34 billion ($43 billion) takeover bid from rival BHP Group Ltd., which Anglo American resisted to pursue a focused strategy centered on copper and iron ore. The sale of Anglo American’s coal assets, combined with its other divestitures, is intended to streamline operations and position the 107-year-old mining company as a leader in minerals critical for the transition to a sustainable economy.
Anglo American’s $1.1B Stake Sale : Legal Representation and Case Oversight
The transaction was led by Latham & Watkins corporate partners Sam Newhouse, Emily Cridland, and Ed Barnett, with associates Harry Redford and Emily Smith advising on the deal.
