BHP target Anglo unveils radical restructuring plan including Amplats, De Beers spinoffs

Anglo American, which is in the sights of the world's largest miner, BHP, has launched a "clear, compelling and decisive plan" to accelerate delivery of strategy in order to unlock value for shareholders.

The plan proposes a "radically simplified portfolio of world-class assets in copper, premium iron ore and crop nutrients", with the announcement coming a day after the board of the company unanimously rejected a new revised offer from BHP.

On the chopping block is Anglo American Platinum – which will be demerged in order to optimise value for both company's shareholders. De Beers and the group's steelmaking coal businesses will also be divested. Anglo said it was also exploring options for care and maintenance and divestment of its nickel business.