LONDON (AP) -- Anglo American PLC said Wednesday it has sold the majority of its 44 percent shareholding in South African aluminum products maker Hulamin Ltd. to Coronation Asset Management for $93 million as it continues to streamline its focus on mining.
The London-based company said it had reduced the stake to 35.8 million shares from 96.8 million shares, "in line with Anglo American's strategic commitment to focus on its core mining operations."
It added that it may sell further Hulamin shares.
Anglo American originated as a gold-mining company in South Africa in 1917, and the majority of its operations remain in southern Africa, including in Botswana and Namibia.
Its corporate headquarters has been in London since 1999, following the merger of Anglo American Corp. of South Africa with Minorco, based in Luxembourg. It operates in 45 countries, with interests in precious and base metal, ferrous metals and coal.