Anglo American agrees purchase of 49% interest in MMX Minas-Rio iron ore
project for US$1.15 billion
Anglo American plc
(“Anglo American”) is pleased to announce that the contract for the
transaction, announced on 23 April 2007 with MMX Mineração e Metálicos S.A. (“MMX”), has been signed in Rio de Janeiro, Brazil today. Following
satisfaction of the closing conditions, Anglo American will acquire a 49%
interest in MMX Minas-Rio for an economic value and effective price of US$1.15
billion.
Cynthia Carroll,
CEO of Anglo American plc said: “I am delighted that MMX and Anglo
American will be driving forward this exciting iron ore project. We have great
confidence in Eike Batista and his management team and look forward to a long
and rewarding partnership. Iron ore is core to Anglo American’s future
growth strategy and MMX Minas-Rio, together with the planned Kumba expansions,
will add significantly to the Group’s iron ore production, resulting in
consolidated iron ore production in excess of 100 million tonnes per annum in
the next five years.”
This acquisition
represents Anglo American’s second major investment in Brazil in the
last six months. In December 2006, the approval of the Barro Alto nickel
project was announced at an estimated capital cost of $1..2 billion. Barro Alto
will produce an average of 36,000 tonnes of nickel per year over a minimum 26
year mine life and will contribute significantly to a potential doubling of the
Group’s nickel production to around 90,000 tonnes per annum by 2011.
Cynthia Carroll
continued: “Anglo American has been operating in Brazil for many
years and these major new investments indicate our firm commitment to remaining
a responsible and successful operator in the country for many years to
come.”
Anna
Poulter
Tel: + 44 207 968
2155
Tel: +27 11 638
4730
Kate Aindow
Media Manager
Anglo American plc
20 Carlton
House Terrace
London SW1Y 5AN
Tel: +44 (0)20 7968 8619
Email: kate.aindow@angloamerican.co.uk
Anglo American Services (UK) LTD | 20 Carlton House Terrace | London SW1Y 5AN | United Kingdom
Registered office as above | Registered in England and Wales under the Companies Act 1985 | Registered Number 2295324
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Anglo American plc
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PRODUCER |
CODE : AAL.L |
ISIN : GB00B1XZS820 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Anglo American is a nickel and zinc producing company based in United kingdom. Anglo American produces nickel, zinc, chromium, copper, gold, manganese, molybdenum, platinum, silver, uranium and zircon in Australia, in Brazil, in Canada, in Chile, in Namibia, in Peru, in South Africa and in Venezuela, develops coal, copper, gold and molybdenum in South Africa, and holds various exploration projects in Brazil. Its main assets in production are RUSTENBURG SECTION, MAMATWAN, MPONENG (WESTERN DEEP NO. 1 SHAFT), TAUTONA (WESTERN DEEP NO.3 SHAFT), MARIKANA, WESSELS and PALABORA MINE AND SMELTER in South Africa, COLLAHUASI MINE, MANTOS BLANCOS and MARICUNGA in Chile, CODEMIN in Brazil, NAVACHAB MINE and SKORPION MINE in Namibia, LOMA DE NIQUEL in Venezuela, GEMCO in Australia, QUELLAVECO in Peru and CALLINAN MINE in Canada, its main assets in development are ZONDAGSFONTEIN and PEBBLE in South Africa and its main exploration properties are LISHEEN and RATHDOWNEY TREND / MOATE in Ireland, SAN FERNANDO and PINABETE in Mexico, 777 PROJECT, BAY PAINE, NUVILIK, MUSKOX, RIVER VALLEY, RAGLAN / BELANGER and WEST RAGLAN in Canada, BOYONGAN (NORTH) in Philippines, RAKKURIJARVI in Sweden, ATASPACA and ANTAY in Peru, KOLWEZI in Congo Dem. Rep. of, SALOBO and ARIPUANA / AREX in Brazil, PLATREEF and SPITZKOP ZINC in South Africa and ZAMBEZI in Zambia. Anglo American is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 2 743.2 billions as of today (US$ 3 281.7 billions, € 2 874.8 billions). Its stock quote reached its lowest recent point on May 12, 2017 at GBX 1 001.00, and its highest recent level on March 28, 2024 at GBX 1 951.80. Anglo American has 1 405 465 000 shares outstanding. |