Anglo completes Amapa sale

FTSE 100-listed miner Anglo American yesterday said it has completed its sale of the Amapa iron ore operation in Brazil to Zamin Ferrous for $134m (£83.9m), after receiving regulatory approval. As previously announced, Zamin will also pay Anglo American deferred payments of up to $130m over the next five years, depending on the iron ore price. Anglo American will use the proceeds to pay off existing debt, the company has said.