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Bloomberg: Potential sale of Anglo American nickel mine in Brazil stalls

Aug. 12, 2016 4:55 PM ETAnglo American plc (AAUKF) StockSHERF, AAUKY, AAUKF, GLCNF, GLNCYBy: Carl Surran, SA News Editor
  • Anglo American’s (OTCQX:AAUKF, OTCPK:AAUKY) bid to sell its Barro Alto nickel mine in Brazil has stalled because bids from potential suitors fell short of the valuation sought by the company, Bloomberg reports.
  • The mine has attracted interest from companies including Glencore (OTCPK:GLCNF, OTCPK:GLNCY), X2 Resources and Sherritt International (OTCPK:SHERF), according to the report.
  • Anglo wants to raise more than $3B from asset sales as part of a plan to cut debt below $10B by the end of the year.

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