Anglo American 'considering £1bn sale of niobium and phosphates business'

Anglo American chief is reportedly considering the disposal of the group's niobium and phosphates business, worth £1bn.

Mark Cutifani is believed to have contacted advisers about the move, which is still a few months off, the Sunday Times wrote.

The 57-year-old is facing the huge task of reducing Anglo's debt as it battles against sliding prices.

Cutifani has already raised $2bn from a number of sales including its Chilean copper mines and platinum operations in South Africa.