Business
Anglo American agrees sale of two royalty assets
Anglo American agrees sale of two royalty assets.
About this update from Anglo American Plc
[{"type":"text","content":"\n\n\n\n\n\n22 July 2024\n\n\n\n\nAnglo American agrees sale of two royalty assets for cash proceeds of up to US$195 million\n\n\n\n\n\n\n\n\n\nAngo American has entered into definitive agreements to sell two royalties to Taurus Funds Management (\"Taurus\") for a total of up to US$195 million in cash: comprising an upfront cash payment of US$150 million and up to US$45 million of deferred cash consideration that is subject to certain conditions.\n \nTaurus has agreed to acquire:\n \n· an iron ore royalty owned by De Beers related to the Onslow Iron project in West Pilbara in Australia. Taurus will acquire the subsidiary company of De Beers that owns the royalty for upfront cash consideration of US$125 million and up to US$25 million of deferred consideration; and\n· a gold and copper royalty related to the Caspiche project in northern Chile for upfront cash consideration of US$25 million and up to US$20 million of deferred consideration.\n \nThe sale is expected to close in Q4 2024, pending customary closing conditions.\n \n \n \n \n\n \nFor further information, please contact:\n \n\n\n\n\nMedia\n\n\n\n\n\nInvestors\n\n\n\n\n \nUK\nJames Wyatt-Tilby\[email protected]\nTel: +44 (0)20 7968 8759\n \nMarcelo Esquivel\[email protected]\nTel: +44 (0)20 7968 8891\n \nRebecca Meeson-Frizelle\[email protected]\nTel: + 44 (0)20 7968 1374\n \nSouth Africa\nNevashnee Naicker\[email protected]\nTel: +27 (0)11 638 3189\n \n\n\n\n\n\n \nUK\nTyler Broda\[email protected]\nTel: +44 (0)20 7968 1470\n \nEmma Waterworth [email protected]\nTel: +44 (0) 20 7968 8574\n \nMichelle Jarman\[email protected] \nTel: +44 (0)20 7968 1494\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNotes to editors:\nAnglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billion...