By Anjie Zheng

HONG KONG--China Molybdenum Co. (3993.HK) will spend US$1.5 billion to buy two Brazilian businesses from Anglo American PLC (AAL.LN), a global miner.

The Hong Kong-listed miner will purchase Anglo American Fosfatos Brasil Limitada and Anglo American Niobio Brasil Limitada from Anglo, it said in a statement on the Hong Kong Stock Exchange on Monday, after Anglo American said Thursday it agreed to sell its Brazilian niobium and phosphates businesses to China Molybdenum.

China Molybdenum said that the two companies' production of phosphates is an important strategic addition to the company's core molybdenum and tungsten mining businesses.

Trading of China Molybdenum's shares was suspended in Hong Kong Thursday pending the announcement and will resume Tuesday.

Write to Anjie Zheng at anjie.zheng@wsj.com

(END) Dow Jones Newswires

May 02, 2016 20:52 ET (00:52 GMT)

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