UK-based mining giant Anglo American has announced that it has completed the deal to integrate Brazilian miner Vale’s Serra da Serpentina high quality iron ore resources into its Minas-Rio mine.
Within the scope of the agreement, Vale will acquire a 15 percent stake in the Minas-Rio mine for $157.5 million, though Anglo American will continue to control, manage and operate the mine, including any further expansions. In addition, Vale will have an option to acquire another 15 percent interest in the expanded Minas-Rio operation.
The integration of Serpentina into the Minas-Rio operations will double Anglo American’s premium pellet production, helping steelmakers to achieve their decarbonization targets.
The UK miner also stated that the development of its ultra-high-dense-media-separation (UHDMS) processing technology project at the Sishen iron ore mine operated by its South African subsidiary Kumba Iron Ore is progressing and that both projects will boost its global premium iron ore operations and position it to better meet future demand.
Minas-Rio is an integrated iron ore operation with a high-grade pellet feed capacity of 26.5 million mt per year, with the potential to expand to up to 31 million mt per year.