Anglo American saw its Minas-Rio iron ore project in Brazil post a EBITDA loss of $6 million in 2016, it said this week, after announcing its preliminary full year results for 2016. As for 2015, the underlying EBITDA loss for the Minas-Rio project was $20 million.
Iron ore sales volumes at the Minas-Rio project rose 90.5 percent in 2016, year-on-year, to 16.2 million mt.
Average prices for the commodity produced in Brazil rose to $54/mt in 2016, from $41/mt in 2015, the company said, adding prices for iron ore in Brazil are the “average realized export basket price (FOB Açu) (wet basis).”
Anglo said the Minas-Rio’s capitalized operating EBITDA totaled $269 million, up from a $239 million loss in 2015, “reflecting higher total sales volumes and an improvement in realized iron ore prices, as well as lower unit costs.”
Anglo said the Minas-Rio’s capitalized operating EBITDA totaled $269 million, up from a $239 million loss in 2015, “reflecting higher total sales volumes and an improvement in realized iron ore prices, as well as lower unit costs.”