Anglo American saw EBITDA for its Minas-Rio project in Brazil increase in the full-year of 2020, the company said, reaching $1.86 billion, 60 percent up, year-over-year.
The company also managed to reduce Capex at its Minas-Rio site in the full-year of 2020 by 20 percent, year-over-year, to $163 million.
Iron ore realized selling prices in the full-year of 2020 rose 35 percent, year-over-year, to $107/mt FOB, the company said. The mining margin in the full-year of 2020 also grew 12 percent, year-over-year, to 61 percent.
“Minas-Rio has been a standout performer. Again, good stability, driving the sales in the year at 24 million mt of high iron content product,” said Anglo America’s CFO, Stephen Pearce.