Source - RNS
RNS Number : 4195L
Anglo American PLC
30 September 2016
 

 

 

30 September 2016

Anglo American receives cash proceeds of $1.7 billion for the completed sale of Niobium and Phosphates businesses

 

Anglo American plc ("Anglo American") announces the completion of the sale of its Niobium and Phosphates businesses in Brazil to China Molybdenum Co. Ltd, following the agreement announced on 28 April 2016. The economic benefits of the businesses will transfer to CMOC as of the end of 30 September 2016. Anglo American has received cash proceeds of approximately $1.7 billion, constituting the agreed consideration of $1.5 billion and approximately $187 million of working capital and other adjustments, subject to certain post-closing adjustments. Net proceeds, after taxes payable and transaction costs, of $1.5 billion from the sale will be used to reduce debt.  

 

The Niobium and Phosphates businesses are located in the states of Goiás and São Paulo, in Brazil. The Phosphates business consists of a mine, beneficiation plant, two chemical complexes and two further mineral deposits. The Niobium business consists of one mine and three processing facilities, two non-operating mines, two further mineral deposits and sales and marketing operations in the United Kingdom and Singapore. 

 

 

 

 

 

For further information, please contact:

 

 

Media

 

Investors

UK

James Wyatt-Tilby

[email protected]

Tel: +44 (0)20 7968 8759

 

Marcelo Esquivel

[email protected]

Tel: +44 (0)20 7968 8891

 

 

UK

Paul Galloway

[email protected]

Tel: +44 (0)20 7968 8718

 

Trevor Dyer

[email protected]

Tel: +44 (0)20 7968 8992

 

South Africa

Pranill Ramchander

[email protected]

Tel: +27 (0)11 638 2592

 

Ann Farndell

[email protected]

Tel: +27 (0)11 638 2786

 

Sheena Jethwa

[email protected]

Tel: +44 (0)20 7968 8680

 

 

 

 

 

Notes to editors:

 

Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products - from diamonds (through De Beers) to platinum and other precious metals and copper - to our customers around the world.

 

As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate - creating sustainable value and making a real difference.

 

www.angloamerican.com

 

     


This information is provided by RNS
The company news service from the London Stock Exchange
 
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