Anglo American has completed the sale of its niobium and phosphates businesses in Brazil to China Molybdenum Co. Ltd, following the agreement announced on 28 April.
The economic benefits of the businesses transfer to CMOC as of the end of 30 September.
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.
At 8:30am: (LON:AAL) Anglo American PLC share price was +7.3p at 974.9p