Anglo American sells 70% stake in Brazil mine

January 4, 2013


A miners helmet/FILE
A miners helmet/FILE
LONDON, Jan 4 – Global miner Anglo American said on Friday that it had agreed to sell its majority holding in its Amapa mine in Brazil to private international minerals group Zamin Ferrous for an undisclosed amount.

“Anglo American plc announces the sale of its 70-percent interest in the Amapa iron ore operation in Brazil to Zamin Ferrous Ltd,” the company said in a statement, adding that the terms of the deal were confidential.

“Anglo American has always maintained that it does not envisage holding its interest in Amapa over the long term.”

The transaction, which remains subject to state regulatory approval, is expected to be completed this year.

Anglo American had announced last October that its first female chief executive Cynthia Carroll would step down for personal reasons.

The London-listed mining giant, which was hit by violent strike action last year at platinum mines in South Africa, added that 55-year-old Carroll would remain in the post until the appointment of a successor.

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