Anglo American may increase iron ore capacity at its Minas-Rio mine project in the states of Minas Gerais and Rio de Janeiro, according to media reports.
Iron ore output could expand up to 29 million mt in the 2018-2020 period, according to Paulo Castellari, Anglo’s CEO for Brazil. Currently, the mine has a 26.5 million mt/year expected capacity.
The output increase could help Anglo to cut unit costs at the project.
Cash costs at the Minas-Rio iron ore mine are expected to be reach between $33-$35/mt, reports said, quoting Castellari’s comments.