Anglo American to Sell Two Royalty Assets for $195 Million
[Click image to enlarge]
Anglo American agreed to sell two royalty assets for up to $195 million to Taurus Funds Management.
The diversified miner said Monday that Taurus will buy an iron-ore royalty owned by Anglo’s diamond unit De Beers related to the Onslow iron project in West Pilbara, Australia for $125 million in cash, with up to $25 million being deferred.
The Australian fund manager will buy the subsidiary of De Beers that owns the royalty. It will also buy a gold and copper royalty related to the Caspiche project in northern Chile for $25 million in cash and up to $20 million being deferred.
The sales are expected to close in the fourth quarter.
Anglo American is a leading global mining company and its products are the essential ingredients in almost every aspect of modern life. Their portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With people at the heart of their business, they use innovative practices and the latest technologies to discover new resources and to mine, process, move, and market products to their customers — safely and sustainably. As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and metallurgical coal for steelmaking, and nickel — with crop nutrients in development — they are committed to being carbon neutral across our operations by 2040. More broadly, their Sustainable Mining Plan commits them to a series of stretching goals to ensure they work towards a healthy environment, creating thriving communities, and building trust as a corporate leader. They work together with business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which they operate.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2024 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
