Anglo American delivers first ore on ship at Minas-Rio in Brazil
Anglo American has reported the delivery of the first ore on ship (FOOS) from its Minas-Rio iron ore project in Brazil.
Anglo American
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16:35 19/04/24
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The mining group announced on Monday that the first cargo of over 80,000 tonnes of ore had been loaded onto a ship at the port of Açu in Rio de Janeiro state. The vessel is currently on its way to customers in the pellet feed market in China.
FOOS was delivered "within the targeted budget", the company said.
Chief executive Mark Cutifani said that delivering FOOS from Minas-Rio was a "remarkable achievement […] and is one of our three major commitments to our shareholders this year".
"Minas-Rio has an exceptional resource in terms of scale and ore quality, producing some of the highest quality pellet feed available for our customers across the Middle East and Asia, providing us with a clear competitive advantage," Cutifani said.
Despite the current weakness in the iron ore price, Anglo's boss said that the outlook for commodity class remains "attractive" and that operations at Minas-Rio will be able to sustain a low operating cost model over the long term.