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Anglo American sells 70% stake in Amapa

Jan 04 2013 09:55
I-Net Bridge

Company Data

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 140
Change -5
% Change -3
Cumulative volume 2712222
Market cap 0

Last Updated: 31-05-2016 at 05:01. Prices are delayed by 15 minutes. Source: McGregor BFA

Johannesburg – One of the world’s largest mining companies‚ Anglo American [JSE:AGL]‚ announced on Friday that it has sold 70% of its stake in the Amapa iron-ore operation in Brazil to Zamin Ferrous. 

“Anglo American has always maintained that it does not envisage holding its interest in Amapa 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 said in a note on Friday. 

Since Anglo American’s acquisition of Amapa in 2008‚ production rose from 1.2 MT to 4.8 MT in 2011. 

The deal is expected to be completed later this year.

 

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