Anglo American plc has reached an agreement with China Molybdenum Co Ltd to sell its niobium and phosphates businesses for a total cash consideration of $1.5 billion, the company announced on April 28.
The total consideration will be payable to Anglo American at closing, subject to certain closing and post-closing adjustments, the company said in a statement.
The wholly-owned niobium and phosphates businesses are located in the states of Goiás and São Paulo, in Brazil. The phosphates business consists of a mine, beneficiation plant, two chemical complexes and two further mineral deposits.
The niobium business consists of one mine and three processing facilities, two non-operating mines, two further mineral deposits and sales and marketing operations in the United Kingdom and Singapore.
Together, the businesses generated EBITDA of $146 million in the year ended December 31, 2015, the statement said.