South African based mining group Anglo American has disposed of its 68% interest in LTA, the international engineering, construction and project manage-ment company to South African construction company Aveng.
The sale forms part of Anglo’s planned $2bn disposal programme. Price paid was $130M cash.
Also scheduled for disposal is manufacturer and specialist contractor Boart Longyear, part of Anglo American for more than 60 years. But according to group deputy chairman Mike Moore, "The aim is to get good value as well as to see Boart Longyear in good hands that will assure its future. Boart Longyear is in a strong position in nearly all its markets," he added.
