Anglo American recently announced that it has reached a deal to sell its niobium and phosphates businesses in Brazil to China Molybdenum Co. Ltd. for $1.5 billion, as part of its ongoing drive to offload noncore assets to reduce debt.
The niobium and phosphates division, which consists of mines, plants, processing facilities, chemical complexes and deposits, was considered one of Anglos more profitable businesses, although a modest contributor to the groups overall profitability.