Anglo finds deep demand in sterling

Coal mining from Adobe 230x150
By Jon Hay
07 Mar 2019

Anglo American, the South African mining company now headquartered in London, returned to the sterling bond market after an 11 year absence on Wednesday, the day after an upgrade by Standard & Poor’s to BBB (stable), and two days after a parallel raise by Moody’s.

The iron, coal, base metals, platinum and diamond miner has been through the mill this decade, with lots of M&A, strikes at its South African platinum mines, huge job cuts as commodity prices whipsawed, and several uninvited investments by Anil Agarwal, the Indian entrepreneur behind Vedanta Resources.

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