REG - Anglo American PLC - Anglo American completes sale of N&P businesses <Origin Href="QuoteRef">AAL.L</Origin>

Anglo AmericanAnnouncement

30/09/2016 17:40

RNS Number : 4195L
Anglo American PLC
30 September 2016
30 September 2016
Anglo American receives cash proceeds of $1.7 billion for the completed sale of Niobium and Phosphates businesses
Anglo American plc ("Anglo American") announces the completion of the sale of its Niobium and Phosphates businesses in Brazil to China Molybdenum Co. Ltd, following the agreement announced on 28 April 2016. The economic benefits of the businesses will transfer to CMOC as of the end of 30 September 2016. Anglo American has received cash proceeds of approximately $1.7 billion, constituting the agreed consideration of $1.5 billion and approximately $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 Niobium and Phosphates businesses are located in the states of Gois and So Paulo, in Brazil. The Phosphatesbusiness consists of a mine, beneficiation plant, two chemical complexes and two further mineral deposits. The Niobium business consists of one mine and three processing facilities, two non-operating mines, two further mineral deposits and sales and marketing operations in the United Kingdom and Singapore.
For further information, please contact:
Media
Investors
UK
James Wyatt-Tilby
james.wyatt-tilby@angloamerican.com
Tel: +44 (0)20 7968 8759
Marcelo Esquivel
marcelo.esquivel@angloamerican.com
Tel: +44 (0)20 7968 8891
UK
Paul Galloway
paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8718
Trevor Dyer
trevor.dyer@angloamerican.com
Tel: +44 (0)20 7968 8992
South Africa
Pranill Ramchander
pranill.ramchander@angloamerican.com
Tel: +27 (0)11 638 2592
Ann Farndell
ann.farndell@angloamerican.com
Tel: +27 (0)11 638 2786
Sheena Jethwa
sheena.jethwa@angloamerican.com
Tel: +44 (0)20 7968 8680
Notes to editors:
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products - from diamonds (through De Beers) to platinum and other precious metals and copper - to our customers around the world.
As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate - creating sustainable value and making a real difference.
www.angloamerican.com

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