Anglo American plc announced the sale of its 70%interest in the Amapáiron ore operation in Brazil to Zamin Ferrous Ltd.
The terms of the transaction are confidential and the transaction is subject to state regulatory approval.
Anglo American has always maintained that it does not envisage holding its interest in Amapáover the long term and,in July 2012,reported that it had transferred responsibility for Amapáto its Other Mining and Industrial business unit and stated that it was exploring the possibility of divesting its interest.
Anglo American has transformed the operational performance of Amapásince acquisition in 2008,increasing production from 1.2 Mt in 2008 to 4.8 Mt in 2011.
The transaction is expected to complete in 2013.
