First Anglo American zinc disposal goes through

6th Dec 2010 07:51

The sale of Anglo American's Skoprpion zinc mine to fellow mining firm Vedanta Resources has finally gone through.The sale is part of the purchase by Vedanta of Anglo American's zinc portfolio, first announced on 10 May.Anglo American will receive $707m in cash from Vedanta for the Skorpion mine, which is located in Namibia.Two more businesses, the Lisheen mine in Ireland and a 74% interest in South African company Black Mountain Mining, are still to be transferred to Vedanta, and are awaiting regulatory approval and competition clearance.In total, Vedanta will play $1,338m for Anglo American's zinc portfolio. The businesses are being acquired on an attributable, debt and cash free basis.