Anglo American is considering the sale of its Minas-Rio iron ore operations in Brazil in two or three years, a company executive said.
Mark Cutifani, CEO at Anglo, said the company is working to improve the mine’s operations before a potential sale happens. A media report this week noted Anglo discarded the possibility of making any new investments in the Minas-Rio iron ore project in Brazil.
The Minas-Rio is an Anglo’s fully integrated export iron ore operation, located in the Brazilian state of Minas Gerais. It includes a mine, a beneficiation plant, a 529 km pipeline as well as a dedicated export facility at the Açu port.
Anglo says the ramp up schedule “continues and is expected to reach design capacity during the second quarter of 2016.” Anglo is a 100 percent owner of the Minas-Rio mine, and has a 50 percent stake in the port facility.