Anglo American has announced that it has completed the integration of the Serpentina iron ore deposit into its Minas-Rio iron ore mine in Brazil.

Serpentina is owned by Vale and is adjacent to Anglo American's Minas-Rio operation in Brazil. Anglo American will continue to control, manage, and operate the Minas-Rio operation.

Under the transaction agreement, Vale will transfer Serpentina and pay Anglo American US$157.5 million in cash for a 15% stake in Minas-Rio.

Anglo American planned to unlock significant value by combining Minas-Rio and Serpentina. Meanwhile, it will utilize Minas-Rio's infrastructure to accelerate the development of Serpentina, thereby generating material synergies.