Anglo American Minas-Rio project in Brazil went from an EBITDA loss in 2018 to an EBITDA of $1.1 billion in the full-year of 2019, the company said while releasing its full-year results.
Anglo American Brazil’s Minas-Rio project had posted an EBITDA loss of $312 million in the full-year of 2018, following a nine-month activity halt due to incidents at the 529kmlong (328milelong) pellet feed-transporting slurry pipeline.
All other indicators have also shown the company’s Brazilian operations have improved. Realized iron ore selling prices rose to $79/mt FOB (wet basis) in the full-year 2019, up from $70/mt FOB (wet basis) in 2018.
Capex spending also rose to $205 million in the full-year 2019 from $106 million in 2018. Anglo American said Minas-Rio’s mining margin reached 50 percent in the full-year of 2019.