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.