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News Breaks | | | | January 4, 2013 | | 08:05 EDT |  | AAUKY | Anglo American sells 70% interest in Amapa iron ore operation
Anglo American announced the sale of its 70% interest in the Amapa iron ore operation in Brazil to Zamin Ferrous. The terms of the transaction are confidential and the transaction is subject to state regulatory approval, the company said. Anglo American said it has always maintained that it does not envisage holding its interest in Amapá over the long term and, in July 2012, reported that it had transferred responsibility for Amapa to its Other Mining and Industrial business unit and stated that it was exploring the possibility of divesting its interest. Anglo American has transformed the operational performance of Amapa since acquisition in 2008, increasing production from1.2 Mt in 2008 to 4.8 Mt in 2011. The transaction is expected to complete in 2013. | |
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