Anglo American completes transaction to acquire control of the Minas-Rio and Amapá iron ore projects
Further to the announcement dated 28 July 2008, Anglo American announces that it has completed the transaction through which Anglo American has acquired control of the Minas-Rio iron ore project and the Amapá iron ore system in Brazil for US$3.5 billion in cash.
Anglo American has acquired a 63.3% shareholding in IronX, which holds a 51% interest in the Minas-Rio iron ore project and a 70% interest in the Amapá iron ore system, at a price of R$28.147 (US$18.056) per IronX share. Anglo American has committed to extend the offer to the minority shareholders of IronX at the same price per share of R$28.147. The successful completion of the offer to the minority shareholders will result in Anglo American owning 100% of the Minas-Rio project, 70% of the Amapá system and 49% of LLX Minas-Rio, the owner of the Port of Açu, at a cost of approximately US$5.5 billion in cash for 100% of the issued and outstanding shares of IronX.
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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