Advertisement
UK markets open in 12 minutes

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

  • HANG SENG

    18,506.40
    +299.27 (+1.64%)
     

  • CRUDE OIL

    79.11
    +0.16 (+0.20%)
     

  • GOLD FUTURES

    2,309.90
    +0.30 (+0.01%)
     

  • DOW

    38,225.66
    +322.37 (+0.85%)
     

  • Bitcoin GBP

    47,333.63
    +1,459.12 (+3.18%)
     

  • CMC Crypto 200

    1,295.13
    +18.15 (+1.42%)
     

  • NASDAQ Composite

    15,840.96
    +235.48 (+1.51%)
     

  • UK FTSE All Share

    4,446.15
    +27.55 (+0.62%)
     
Money:

Best UK mortgage deals of the week

The cheapest home loans available now

Anglo American agrees $1.5 bln sale of niobium and phosphates units

Reuters - UK Focus

LONDON, April 28 (Reuters) - Miner Anglo American said on Thursday it had agreed to sell its niobium and phosphates businesses to China Molybdenum for $1.5 billion in cash to reduce its debt level.

The businesses, consisting of mines, plants, processing facilities, chemical complexes and deposits, are located in Brazil.

The deal is subject to certain approvals and is expected to close in the second half of the year.

"The proceeds from this transaction ... will enable us to continue to reduce our net debt towards our targeted level of less than $10 billion at the end of 2016," Anglo's Chief Executive Mark Cutifani said in a statement. (Reporting by Sarah Young; Editing by Susan Fenton)