Anglo may use subsidiary to move into China
February 20, 2004
By Sherilee Bridge
Johannesburg - Anglo American, the world's second-largest resources group, might use its subsidiary Kumba Resources as a marketing conduit into China, it emerged yesterday.
While Kumba boss Con Fauconnier insisted it was still early days, Anglo is believed to be interested in using the local resources group's expertise in the Chinese market as a means to grow its market share.
Anglo owns 66 percent of Kumba after it made an offer to Kumba minorities late last year and has plans to participate in the consolidation of the Northern Cape's iron ore assets.
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