28th Apr 2016 06:22
LONDON (Alliance News) - Anglo American PLC on Thursday said it has struck a deal to sell its niobium and phosphates businesses to China Molybdenum Co Ltd for a total cash consideration of USD1.50 billion.
The FTSE 100-listed multi-commodity miner is downsizing its business and offloading its non-core business units, and the niobium and phosphates businesses were one of the first to be put up for sale as part of the company's restructuring programme.
The phosphates business is based in Brazil and consists of a mine, beneficiation plant, two chemical complexes and two further mineral deposits, whilst 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 UK and Singapore.
The businesses generated combined earnings before interest, tax, depreciation and amortisation of USD146.0 million in 2015.
By Joshua Warner; [email protected]; @JoshAlliance
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