Anglo American completes sale of Norte

RNS Number : 8552Y

Anglo American PLC

14 September 2015

 



14 September 2015
Anglo American announces the completion of the sale of Norte copper business, bringing 2015 asset disposal cash proceeds to date to $1.9 billion

Anglo American plc ("Anglo American") announces that it has completed the sale of its interest in Anglo American Norte S.A. ("Norte") to an investor consortium led by Audley Capital Advisors LLP, with Orion Mine Finance as the principal co-investor. Norte consists of the Mantoverde and Mantos Blancos copper mines located in northern Chile.

Mark Cutifani, Chief Executive of Anglo American, said: "The completed sale of Norte to the Audley consortium represents further progress with our asset disposal programme and wider strategy to reshape the Anglo American portfolio, prioritising our capital on those assets that will create the most value for our shareholders over the long term. We have delivered $1.9 billion in cash proceeds this year, including $300 million up-front for Norte to add to the $1.6 billion we received for our stake in Lafarge Tarmac in July."

For further information, please contact:

Media		Investors
UK James Wyatt-Tilby Tel: [phone]		UK Paul Galloway Tel: [phone]
Emily Blyth Tel: [phone]		Edward Kite Tel: [phone]
South Africa Pranill Ramchander Tel: [phone] Shamiela Letsoalo Tel: [phone]

Anglo American is a global and diversified mining business that provides the raw materials essential for economic development and modern life. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products - from bulk commodities and base metals to precious metals and diamonds (through De Beers) - to our customers around the world. Our diversified portfolio of products spans the economic development cycle and, as a responsible miner, we are the custodians of precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate - creating sustainable value and making a real difference. Our mining operations, growth projects and exploration and marketing activities extend across southern Africa, South America, Australia, North America, Asia and Europe.

www.angloamerican.com

 

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