UK-based mining giant Anglo American has announced that it is selling its 70 percent interest in the Amapa iron ore operation in Brazil to Zamin Ferrous Ltd (Zamin), a private international mining group that has been operating in Brazil. The parties have not disclosed the terms of the transaction which is subject to state regulatory approval.
Anglo American has contributed to the operational performance of Amapá since acquisition in 2008, increasing production from 1.2 million mt in 2008 to 4.8 million mt in 2011.
According to Anglo American's statement, the transaction is expected to be completed in 2013.
Source:
http://www.steelorbis.com/steel-news/latest-news/anglo-american-sells-70-percent-interest-in-amapa-iron-ore-mine-733223.htm
