June 29, 2014 / 7:15 PM / 5 years ago

Anglo American plans platinum mine sales -Sunday Times

June 29 (Reuters) - Global miner Anglo American Plc has put some of its platinum mines in South Africa up for sale in a move by Chief Executive Mark Cutifani to dispose of underperforming assets, Britain’s Sunday Times reported.

The company has lined up South African investment bank RMB to run the auction, the newspaper said. (thetim.es/1iGNvGq)

Anglo American could not immediately be reached for comment outside of regular working hours.

The Sunday Times said the disposal programme was agreed by the board at a strategy meeting this month and could raise up to $4 billion. Other assets up for sale include its nickel business and copper mines in Chile, it said.

Reuters reported in April that the company could sell some of its deep, high-cost platinum mines.

Reporting by Karen Rebelo in Bangalore; editing by Matthew Lewis

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