Anglo American on Thursday unveiled plans to sell one of its largest Brazilian businesses for $1.5bn in the largest deal by the UK-listed miner since it announced a restructuring plan.
The sale to China Molybdenum Co of Anglo’s niobium and phosphate mines is the start of the group’s bid to sell at least $3bn of assets this year to reinforce its balance sheet.
Mark Cutifani, chief executive, said the sale was “another positive step forward in the strategic reshaping” of Anglo.
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