Anglo sells Chile copper assets for $300m

[] – ANGLO American has completed the $300m sale of its Chile copper assets – Mantoverde and Mantos Blancos – taking the disposals of non-core assets in 2015 to $1.9bn, the UK-listed group said in a statement.

“The completed sale of Norte to the Audley consortium represents further progress with our asset disposal programme and wider strategy to reshape the Anglo American portfolio, prioritising our capital on those assets that will create the most value for our shareholders over the long term,” said Mark Cutifani, CEO of Anglo.

The copper mines will be sold to an investor consortium led by Audley Capital Advisors which has Orion Mine Finance as the principal co-investor. In July, Anglo said it had sold its 50% stake in Lafarge Tarmac to Lafarge for $1.6bn.

Last week, Anglo’s 79%-owned listed subsidiary, Anglo American Platinum, said it intended to sell its Rustenburg mines to Sibanye Gold for no less than $4.5bn with the sale potentially generating just short of R20bn for the group.