Anglo American's Minas-Rio posts increased EBITDA in 2019

Thursday, 20 February 2020 22:05:22 (GMT+3)   |   Sao Paulo
       

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.


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