UK-based
mining giant
Anglo American has announced that it is selling its 70 percent interest in the Amapá
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.