The Brazilian arm of Anglo American is investing an estimated BRL 6.6 billion ($1.27 billion) to increase its iron ore production capacity to 30 million mt per year through 2030.
In 2022, the company’s production is expected to reach a volume of 22-24 million mt.
According to President Wilfred Bruijin, as quoted by the newspaper Diario do Comercio, during 2022 BRL 1.29 billion is already being invested in the operational facilities of the Minas-Rio system, comprised of the mines of Conceição do Mato Dentro, state of Minas Gerais, the Açu port in the state of Rio de Janeiro, and the pipeline linking the two locations.
Bruijin mentioned that the project remains profitable even at iron ore prices around $100/mt, as the company produces a high-quality ore, commanding a premium in relation to the basic ores.
USD = BRL 5.19 (September 14)
