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After rejecting BHP’s second takeover bid on Monday, which was predicated on two major demergers, Anglo American has revealed the extent of its own breakup plan.

A structural overhaul of its portfolio will see Anglo focus its attention on copper assets in South America and iron ore assets in South Africa and Brazil.

The Woodsmith polyhalite fertiliser mine being developed in the north-east of England will also be a mainstay.

The company will demerge Anglo American Platinum, divest or demerge its 85 per cent stake in diamond arm De Beers, and look to offload its Brazilian nickel assets, which are also set to be placed into care and maintenance.

Anglo’s steelmaking coal assets will also be sold, including the Moranbah North and Grosvenor mines located in Queensland.

“We set out our clear strategic priorities earlier this year – operational excellence, portfolio simplification, and growth,” Anglo chief executive Duncan Wanblad said.

“Our decision to focus Anglo American’s portfolio in our world-class resource asset base in copper and premium iron ore – while retaining our crop nutrients optionality at Woodsmith – marks a major new phase in executing our strategy.”

Wanblad said the radically simpler business will deliver sustainable incremental value creation through a step change in operational performance and cost reduction.

“These actions represent the most radical changes to Anglo American in decades,” he said.

“I believe these are the right decisions to position Anglo American to capitalise on the outstanding resource endowment opportunities within our portfolio today.”

Anglo aims to take steps to ensure its employees are well taken care of amidst the changes.

“We see considerable opportunities for our employees, both in delivering the full potential of Anglo American and in the businesses that we will be divesting or demerging, all of which are high quality businesses in their own right,” Wanblad said.

“By implementing these portfolio changes ourselves, we will be able to do so in a manner that is respectful of our employees, host communities and countries, including ensuring that in South Africa in particular Anglo American continues to play its role as a responsible business leader to support the country’s national priorities.”