Anglo American, the South African mining company, is to sell its stake of almost 50 per cent in Tongaat Hulett, the South African sugar and agri-processing group.

The disposal is part of a long-running strategy by Anglo American to sell all operations deemed not to be part of its core mining operations. It follows last month’s sale for $148m of its 46 per cent interest in Hulamin, the South African aluminium group.