MMX Amapa

RNS Number : 9748Y

Anglo American PLC

14 July 2008

 



News Release

14 July 2008

Anglo American statement relating to MMX Amapá

Anglo American notes the investigation in Brazil in relation to Mr Eike Batista and MMX Amapá Mineração Ltda., part of the EBX group of companies.  

As previously announced, Anglo American is party to a stock purchase agreement with Eike Batista and other selling shareholders, as well as other related agreements with MMX Mineração e Metálicos S.A. and other parties related to the EBX group.  Pursuant to these agreements, Anglo American agreed to purchase a majority interest in IronX Mineração S.A., the company that holds the 51% interest in the Minas-Rio iron ore project and a 70% shareholding in the Amapá iron ore system, upon satisfaction of certain conditions.

Many of the conditions to completion have already been fulfilled or waived.  As the transaction moves toward completion and as part of its pre-completion exercises, Anglo American will be assessing information concerning the investigation, which the selling shareholders have agreed to provide on an expedited basis. Anglo American and the selling shareholders will each make decisions in respect of the remaining conditions and their respective rights and obligations under the agreements as this information becomes available.

Anglo American currently owns a 49% interest in the MMX Minas-Rio mine and pipeline project and in the LLX Minas-Rio port project.  MMX has informed Anglo American that neither of these projects is a subject of the investigation.

Cynthia Carroll, Chief Executive of Anglo American, said, "I have great confidence in our Brazilian partners, who have made impressive progress in developing the Minas-Rio and Amapá iron ore projects.  MMX has promised full cooperation with us and we will review all the information to be provided by MMX as quickly as possible. I am hopeful that these issues will be resolved satisfactorily."

For further information, please contact:

United Kingdom

James Wyatt-Tilby, Media Relations

Tel: [phone]

Anna Poulter, Investor Relations

Tel: [phone]

South Africa

Pranill Ramchander, Media Relations

Tel: [phone]

Notes to Editors:

Anglo American plc is one of the world's largest mining and natural resource groups. With its subsidiaries, joint ventures and associates, it is a global leader in platinum group metals and diamonds, with significant interests in coal, base and ferrous metals, as well as an industrial minerals business. The Group is geographically diverse, with operations in Africa, Europe, South and North America, Australia and Asia. (www.angloamerican.co.uk)

 

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