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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Cleveland Cliffs Inc | NYSE:CLF | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.43 | 2.49% | 17.71 | 17.66 | 17.305 | 17.44 | 6,880,940 | 01:00:00 |
From May 2019 to May 2024
LONDON--Diversified miner Anglo American PLC (AAL.LN) said Wednesday that it will sell 100% of its Amapa iron ore operation in Brazil to iron ore specialist Zamin Ferrous for $136 million.
In January Anglo American agreed to sell its 70% stake to Zamin, but raised its holding in Amapa to 100% following an accident that resulted in six deaths and entered into new negotiations with Zamin and Cliffs Natural Resources Inc (CLF), which owned 30% of Amapa.
The agreement to sell Amapa for $136 million is subject to certain adjustments at completion and the repayment of any intercompany balances.
Zamin will also pay Anglo American up to a maximum of $130 million in total, payable over a five year period which will be calculated on the basis of the market price for iron ore.
Anglo American shares closed Tuesday at 1,546 pence valuing the company at GBP21.55 billion.
Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan
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