Anglo American Brazil plans to invest between $200 to $250 million at its Minas-Rio site in 2021, according to a media report by Diario do Comercio.
The investment is part of the company’s $1 billion investment to complete phase 3 of its Minas-Rio project, a 529kmlong (328milelong) pellet feed-transporting slurry pipeline project.
The $200-250 million investment should also help Anglo American Brazil to increase iron ore output at Minas-Rio. Anglo American Brazil expects to reach a capacity of 26.5 million mt by 2022.
Despite the uncertainties in the domestic and global markets due to Covid-19, Anglo American Brazil expects increased iron ore demand.