Anglo American is trying to break up its business as it tries to fend off takeover

Mining giant Anglo American PLC plans to break up its sprawling worldwide business. The move includes spinning off the DeBeers diamond operation and selling coal used in steel production. The moves will allow Anglo American to concentrate on the production of copper and iron ore, which together accounted for more than two-thirds of its profit last year.

Mining giant Anglo American plc plans to break up its sprawling worldwide business — including the DeBeers diamond operation — as it seeks to fend off a takeover and focus on minerals that are expected to boom amid the global shift to green energy.

The project near Whitby, which was taken over by Anglo American in 2020, involves extracting a nutrient-rich fertiliser called polyhalite.