Anglo sells 28 pct of S.African Hulamin for $93 mln

LONDON, July 22 (Reuters) - Mining group Anglo American Plc sold 28 percent of South Africa's Hulamin Ltd for 732 million rand ($93 million) to focus on its core mining operations, Anglo said on Wednesday. Anglo, which is fighting off an unwelcome merger approach from rival Xstrata, retained a 17 percent stake in Hulamin, which makes semi-fabricated aluminium. The disposal was "in line with Anglo American's strategic commitment to focus on its core mining operations", a statement said. Anglo sold 61 million shares to Coronation Asset Management at 12 rand per share, compared to Hulamin's price in Johannesburg of 10.55 rand at 1231 GMT, down 2.3 percent. "Anglo American intends to explore options for unlocking value from its residual shareholding in Hulamin in due course," it said, without giving details. Hulamin posted a sharp drop in interim profit on Wednesday and said that although order intake was recovering, annual earnings would fall by at least 20 percent. Anglo, the world's fourth biggest diversified mining group by market value, is due to post interim results on July 31. (Reporting by Eric Onstad; editing by Elaine Hardcastle)