Australian-based OneSteel Limited announced on Monday plans to purchase two units from British mining company Anglo American Plc for $932 million.
In the deal, the steel maker will acquire Moly-Cop and AltaSteel from Anglo American, which is looking to reduce debt following a 2008 purchase of Brazilian mining company Minas-Rio for $5.5 billion, The New York Times reported. In May, Anglo American sold zinc mines in Namibia, South Africa, and Ireland to Indian company Vedanta Resources Plc for $1.34 billion.
