1st Oct 2008 15:00
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News Release |
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1 October 2008 |
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Anglo American completes sale of Namakwa Sands to Exxaro Resources |
Anglo American announces the completion of the sale of its Namakwa Sands mineral sands operation to Exxaro Resources Limited ("Exxaro") for a consideration of approximately ZAR2 billion (US$245 million). Anglo American also announces the completion of the sale of its Black Mountain zinc, lead and copper operation and its Gamsberg zinc project to Black Mountain Mining Limited, a wholly-owned subsidiary of Anglo American, in which Exxaro is unconditionally obliged to acquire a 26% interest for approximately ZAR180 million (US$22 million).
Anglo American granted options over these interests to Exxaro as part of the unbundling of Kumba Resources Limited in November 2006 and those options were subsequently exercised.
For further information, please contact:
United Kingdom
James Wyatt-Tilby, Media Relations
Tel: +44 (0)20 7968 8759
Anna Poulter, Investor Relations
Tel: +44 (0)20 7968 2155
South Africa
Pranill Ramchander, Media Relations
Tel: +27 (0)11 638 2592
Notes to Editors:
Anglo American plc is one of the world's largest mining and natural resource groups. With its subsidiaries, joint ventures and associates, it is a global leader in platinum group metals and diamonds, with significant interests in coal, base and ferrous metals, as well as an industrial minerals business. The Group is geographically diverse, with operations in Africa, Europe, South and North America, Australia and Asia. (www.angloamerican.co.uk)
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