/ 18 August 1999

ANGLO CONFIRMS INTEREST IN OZ

ANGLO American Plc said on Wednesday that it is on the lookout for further acquisitions in Australia after moving to boost its stake in Australian lateritic nickel producer Anaconda Nickel Ltd. The structure of Australian industry is changing with issues such as the deregulation of the power industry and changing work practices, said James Campbell, Anglo’s chairman of base metals at Anglo American. “All of these things, given the fundamental resource base of Australia, would imply that for a company of our standing and desire to globalise, it is naive not to have an assumption about Australia being on our map,” Campbell said. “It is reasonably clear that Australian is more than on our radar screen,” he told an Australian Mineral Industries Research Association conference.