Anglo American to sell two assets to Taurus Funds for as much as $195m
Taurus will buy the De Beers unit that owns the royalty for $125m in cash and up to $25m of deferred consideration
22 July 2024 - 09:37
byYadarisa Shabong
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Bengaluru — Anglo American said on Monday it had agreed to sell two royalty assets, including a De Beers-owned one related to the Onslow Iron project in Australia, to Taurus Funds Management for up to $195m.
Anglo had started a review of its assets in February and plans to divest less profitable assets and focus on expanding copper output after BHP’s failed attempt to takeover the company.
Taurus will buy the De Beers unit that owns the royalty for $125m in cash and up to $25m of deferred consideration, Anglo said.
The other asset, a gold and copper royalty related to the Caspiche project in northern Chile, will be sold for $25m in upfront cash and up to $20m of deferred consideration.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Anglo American to sell two assets to Taurus Funds for as much as $195m
Taurus will buy the De Beers unit that owns the royalty for $125m in cash and up to $25m of deferred consideration
Bengaluru — Anglo American said on Monday it had agreed to sell two royalty assets, including a De Beers-owned one related to the Onslow Iron project in Australia, to Taurus Funds Management for up to $195m.
Anglo had started a review of its assets in February and plans to divest less profitable assets and focus on expanding copper output after BHP’s failed attempt to takeover the company.
Taurus will buy the De Beers unit that owns the royalty for $125m in cash and up to $25m of deferred consideration, Anglo said.
The other asset, a gold and copper royalty related to the Caspiche project in northern Chile, will be sold for $25m in upfront cash and up to $20m of deferred consideration.
Reuters
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