Anglo American had agreed to sell its majority holding in its Amapa mine in Brazil to private international minerals group Zamin Ferrous for an undisclosed amount, it said on Friday.

“Anglo American announces the sale of its 70 percent interest in the Amapa iron ore operation in Brazil to Zamin Ferrous,” the mining firm said, adding that the terms of the deal were confidential.

“Anglo American has always maintained that it does not envisage holding its interest in Amapa over the long term.”

The transaction, which remains subject to government regulatory approval, is expected to be completed this year. – Sapa-AFP