Anglo American completes Norte sale

Anglo American has completed the sale of its copper business, Anglo American Norte S.A., to an investor consortium led by Audley Capital Advisors LLP, with Orion Mine Finance as the principal co-investor.

The miner said the sale of the business, which consists of the Mantoverde and Mantos Blancos copper mines located in northern Chile, brought its cash proceeds from asset disposals this year to $1.9bn.

"The completed sale of Norte to the Audley consortium represents further progress with our asset disposal programme and wider strategy to reshape the Anglo American portfolio, prioritising our capital on those assets that will create the most value for our shareholders over the long term,” said group chief executive Mark Cutifani.

Anglo American shares were up 1.92% to 732.20p at 0815 BST on Monday.