UK-based mining giant Anglo American Corporation has announced that its first cargo of more than 80,000 mt of iron ore from its Minas-Rio iron ore project in Brazil has left the export terminal at the port of Açu in Rio de Janeiro and is currently en route to customers in China.
According to Anglo American's statement, Minas-Rio produces some of the highest quality pellet feed available for the customers across the Middle East and Asia, providing the company with a clear competitive advantage. The company believes that the outlook for its particular premium product remains attractive, despite the current weakness in the iron ore price, and that the fully integrated operation of Minas-Rio, from mine to port, will enable the company to sustain its low operating cost position over the long term.
Additionally, Anglo American's iron ore Brazil business is now focused on achieving a safe ramp-up to the 26.5 million mt per year capacity over the next 18-20 months.