[miningmx.com] – ANGLO American was estimated to have lost up to $1.7bn on the sale of its Amapa iron ore mine in Brazil, said BDLive which cited a source close to the transaction.
The $1.7bn was based on the original acquisition cost of the mine as well as impairments on the asset over the years, said BDLive. Anglo American would not officially confirm this, the online publication said.
Anglo announced yesterday that it was selling Amapa to Zamin Ferrous for $266m after first buying the 30% stake in the mine it does not own. This compares to a previous deal with Zamin to sell the mine for $380m. The transaction was repriced after a landslide damaged a port that the project uses.
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