Anglo's Minas-Rio to reach full capacity by 2020

Thursday, 10 January 2019 00:58:40 (GMT+3)   |   Sao Paulo
       

Anglo American’s Minas-Rio project should reach full capacity by 2020, according to a media report by Reuters. The company was awarded in December a license for phase 3 of the Minas-Rio project, which will allow it to reach full capacity, or 26.5 million mt/year, by 2020, according to a company’s executive.

“The goal is to allow the Minas-Rio project to be ready to reach the 26.5 million mt/year full capacity,” said Ruben Fernandes, the former CEO of Anglo American in Brazil. In March this year Fernandes will take a CEO position in the company’s global base metals business.

Fernandes said the iron ore produced at the Minas-Rio site is a high quality iron ore, and the commodity’s production comes at a time China is paying higher premiums for a product with fewer contaminants.

Fernandes estimated Minas-Rio to produce between 18-20 million mt/year of iron ore. Anglo American resumed iron ore production at Minas-Rio in December, following incidents on March 12 and March 29 at an Anglo’s 529­km­long (328­mile­long) pellet feed-transporting slurry pipeline.

The incidents halted the company’s iron ore production. For a while after the incidents, Anglo had about 700,000 mt of iron ore, but it then ran out of inventory and tried to re-negotiate contracts.

 


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