Anglo American Brazil, which owns the Minas-Rio iron ore project, plans to invest BRL 4.4 billion ($803.6 million) in Minas Gerais state, the company said in an announcement made during the COP26 conference in Glasgow, Scotland this week.
Anglo American Brazil said the investment will be carried out by 2025 and will support the operational continuity of its Minas-Rio iron ore project in Minas Gerais state. The investment should cover technology improvements, construction and works for an eventual expansion in the site.
The Minas-Rio project comprises a 529kmlong (328milelong) pellet feed-transporting slurry pipeline project. Anglo American Brazil expects the mine to reach a capacity of 26.5 million mt by 2022.