Moors mine risky bet for Anglo

19 January 2020 - 00:00 By CLARA FERREIRA MARQUES

Anglo American is dabbling in creative mergers & acquisitions. Buying an English fertiliser project for just over $500m (R7bn), excluding debt, is more than manageable for a $35bn mining giant that generated $1.3bn in free cash flow in the first half of last year. It's also a gamble on an unproven niche market that speaks to the paucity of large-scale acquisition options for cashed-up diggers.

Anglo said last week it may bid for London-listed Sirius Minerals, owner of a giant potash project under the North York Moors National Park...

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