Impala Platinum Keeping Eye On Anglo American Platinum Review

Impala Platinum Holdings Ltd. (IMP.JO) is keeping a close eye on Anglo American PLC's (AAL.LN) platinum review and would be prepared to scoop up any assets if they fit within Impala's portfolio and generate value for shareholders, the company's chief executive said Tuesday.

"Quite clearly if there were assets that came up that we felt would be best housed within ourselves...we would be interested," David Brown told analysts on a conference call.

Anglo American, through its majority-owned unit Anglo American Platinum Ltd. (AMS.JO), launched a review earlier this year to extract more profitability from its platinum operations against a backdrop of rising costs. Anglo American's Chief Executive Cynthia Carroll previously said that all options are on the table including potential assets sales and mine closures.

Brown said that he doesn't expect Anglo American to sell its "crown jewels," and would only be interested in any assets that would generate value for shareholders and where it could extract synergies, among other things.

South Africa-based Anglo American Platinum is the world's largest platinum producer, accounting for some 40% of global annual output. Its platinum review is expected to be completed by the end of 2012.

-By Alex MacDonald, Dow Jones Newswires; [phone]; [e-mail]