Anglo American Signs $195 Million Royalty Sale Agreement with Taurus Funds Management
Anglo American has finalized agreements to sell two royalties to Taurus Funds Management for a total cash consideration of up to $195 million.
Under the deal, Anglo American will receive $150 million in upfront cash, with an additional potential payment of up to $45 million contingent upon specific conditions.
Taurus will purchase an iron ore royalty held by De Beers, linked to the Onslow Iron project in West Pilbara, Australia. This includes acquiring the De Beers subsidiary that owns the royalty for $125 million upfront, along with up to $25 million in deferred payments.
Additionally, Taurus will acquire a gold and copper royalty associated with the Caspiche project in northern Chile, which entails an upfront cash payment of $25 million and up to $20 million in deferred consideration. The transaction is expected to be completed in Q4 2024, pending the fulfillment of standard closing conditions.
Recently, Anglo American has also been in the spotlight for considering options to proceed with the sale of its coal assets following an underground fire at its Grosvenor steelmaking coal mine in Queensland, Australia.
This sale is part of the company’s broader restructuring program announced earlier this year to address a takeover attempt by BHP Group.
