Fluor Corp. to Sell Iron Ore Company

Irvine-based Fluor Corp. announced Monday that it has agreed to sell Pea Ridge Iron Ore Co. Inc. to Big River Minerals Corp. of St. Louis for about $12 million.

The transaction will result in a nonrecurring after-tax gain of less than 10 cents per share in the third quarter ending July 31.

Pea Ridge Iron Ore, carried as a discontinued operation since 1987, is based in Sullivan, Mo. The company operates an iron ore mine and pelletizing plant. Iron ore pellets are used in the production of steel.