Anglo American agrees to sell Amapá iron ore operation

Anglo American has agreed to sell its 70% interest in the Amapá iron ore operation in Brazil to Zamin Ferrous.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

The terms of the transaction remain undisclosed and the deal is subject to regulatory approval, the miner said on Friday January 4.

“Anglo American has always maintained that it does not envisage holding its interest in Amapá over the long term and, in July 2012 […] stated that it was exploring the possibility of divesting its interest,” a statement from the miner read.

Anglo American acquired Amapá in 2008 and increased its production to 4.8 million tonnes in 2011 from 1.2 million tonnes.

Zamin Ferrous has been operating in Brazil since 2005 and owns a combined 1.5 billion tonnes of potential iron ore resources in the country.

What to read next
Following a six-week consultation period, Fastmarkets can confirm it will amend the calculation method for all the average functions on the Fastmarkets platform from Wednesday March 1, 2023.
Consolidation, the recycling of electric vehicle batteries, US steel exports and the benefits of sustainable steelmaking were key talking points at Fastmarkets’ Scrap & Steel 2023 conference in Dallas in January
Green shoots of increased demand will emerge in US ferrous markets courtesy of the Biden administration’s trillion-dollar infrastructure package in 2023, Schnitzer’s executive vice president and chief strategy officer Richard Peach said at Fastmarkets’ Steel and Scrap Conference 2023 in Dallas, Texas
US special bar quality steel prices rose in January in line with rising scrap and alloy costs, according to market participants
European metal industry association Eurometaux has called on the European Commission to follow the lead shown by the Inflation Reduction Act and deliver a “powerful” policy to support the industry in the EU while it tries to keep up with the move to a new generation of energy markets
The fallout from Russia’s invasion of Ukraine is changing global trade flows for bauxite, with Brazilian material once again flowing into China and with the introduction of export restrictions elsewhere likely to influence availability through 2023
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.