Mostly: Classical

[amarksp]

ANO, think we are getting very close to an announcement, certainly before year end, maybe by end of month...? Plowing back PAL capital into ANO...

"Trahar said it was possible that Anglo American could increase its stake in Anglo Platinum further with cash derived from its restructuring. The company was also considering means of growth and investment in the platinum firm in tandem with an empowerment plan, the company said.

"This is a road map for the future. We could buy more shares in Anglo Platinum, we have a $5bn project pipeline that needs to be financed, we could consider other acquistions, pay down debt or return cash to shareholders," said Trahar on plans for cash generated from the restructuring. "

http://www.miningmx.com/mining_fin/509373.htm
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JOHANNESBURG (Mineweb.com) -- Anglo American is planning effectively to reduce its exposure to South Africa and to non-mining interests by selling assets, repaying debt in that country and distributing part of the proceeds to shareholders by way of a $1 billion special dividend or share buy-back in 2006.

On the auction block are all or part of the group’s investment in AngloGold Ashanti, worth some $5.8 billion at present, and its shareholding in Highveld Steel & Vanadium. Away from metals, and further down the track, all or part of wholly-owned pulp and paper company Mondi will be in play as will the interest in sugar/aluminium company Tongaat Hulett.

CE Tony Trahar was not specific as to the timing or amount of the planned sales when he spoke to wire services on Wednesday. However, they form part of a tighter focus on extractive industries over which Anglo American can exercise complete or undisputed control particularly over group subsidiaries’ cash flows. And now that the restructuring has been officially disclosed, Trahar and his board colleagues are unlikely to waste time.
http://www.mineweb.net/sections/509440.htm