February 04, 2011 - Anglo American completes sale of Black Mountain Mining zinc interest to Vedanta
Anglo American plc (Anglo American) announces the completion on 4 February 2011 of the sale of its Black Mountain Mining zinc interests in South Africa to Vedanta Resources plc (Vedanta) for cash proceeds of US$346 million.
Anglo American announced the sale of its Zinc portfolio to Vedanta on 10 May 2010, for a total consideration of US$1,338 million. Due to the regulatory approval and competition clearance processes, separate completion dates were expected for each of the three businesses within the Zinc portfolio, namely Skorpion mine, Lisheen mine and Black Mountain Mining. The completion of the sale of Lisheen is expected to take place in due course.
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