JOHANNESBURG (miningweekly.com) – Anglo American has sold its Brazil-based niobium and phosphate businesses to China Molybdenum Company for $1.7-billion.
The proceeds constituted the agreed consideration of $1.5-billion and about $187-million of working capital and other adjustments, subject to certain post-closing adjustments.
Net proceeds, after taxes payable and transaction costs, of $1.5-billion from the sale will be used to reduce debt.
The projects are located in the states of Goiás and São Paulo, in Brazil, respectively, with the phosphates business comprising a mine, beneficiation plant, two chemical complexes and two further mineral deposits.
The niobium business comprises one mine and three processing facilities, two nonoperating mines, two further mineral deposits and sales and marketing operations in the UK and Singapore.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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