Anglo American Resumes Minas-Rio Iron Ore Operation In Brazil
(RTTNews.com) - Anglo American plc (AAUKY.PK, AAL.L) announced Friday the resumption of operations at its Minas-Rio iron ore operation in Brazil.
The restart of the integrated iron ore operation follows an extensive and detailed technical inspection of the 529km pipeline that carries the iron ore in slurry form from the mine to the port, the pre-emptive repair of certain sections of the pipeline, and receipt of the appropriate regulatory approvals.
The company said the inspection of the entire pipeline by specialist pipeline inspection devices or PIGs, and the analysis of the collected data by expert teams drawn from Brazil and internationally, confirmed the pipeline's integrity.
Anglo American expects the operation to ramp up to 1.2 million tonnes per month and to produce approximately 16-19 million tonnes of iron ore in 2019, with the expectation that the Step 3 licences are received as planned.
Minas-Rio is expected to report an underlying EBITDA loss of $320 million for 2018, compared to guidance of a loss of $300 million to $400 million.
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