Anglo American’s biggest shareholder, the Public Investment Corporation (PIC), will meet with the company next week to discuss whether its plans to sell more than half of its mines including South African coal and iron-ore assets is the best option for the country. The PIC, which oversees the pension funds of South African government workers and owns about 14.5% of Anglo, wants the sale plan put to a shareholder vote because it’s concerned that selling mines after commodity prices plunged would not realize the full value of the assets, said Deon Botha, the Pretoria-based PIC’s head of corporate affairs.
