Anglo American sees improved EBITDA for Minas-Rio in 2020

Tuesday, 02 March 2021 19:18:59 (GMT+3)   |   Sao Paulo

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.

Most Recent Related Articles

Bamin to upgrade waste dam at Pedra de Ferro iron ore mine

Anglo American to use 100 percent renewable energy in South America

Tombador Iron signs multiple logistics contracts to export iron ore from Brazil

Brazilian regulators halt four mining dams

Brazilian prosecutors close investigation on Vale’s failed Simandou project