Anglo American Sells Brazilian Iron Ore Mine for $134M

London South East reports that Anglo American (LSE:AAL) has completed the sale of its Amapa iron ore operation in Brazil to Zamin Ferrous Limited.

As quoted in the market news:

The FTSE 100 metals and minerals mining giant said the deal was completed after it received an initial cash consideration of USD134 million for the site.

As announced on September 25, Zamin also will pay Anglo American a deferred consideration of up to a maximum of USD130 million, payable over a five-year period, subject to certain conditions.

Anglo American said it will use the proceeds to pay down some of its debt.

Click here for the full article in London South East.