Anglo American Raises 2019 Minas-Rio Production Guidance
December 24 2018 - 1:52AM
Dow Jones News
By Adria Calatayud
Anglo American PLC (AAL.LN) said Monday that it raised its
production guidance for 2019 for its Minas-Rio iron-ore operation
in Brazil after receiving regulatory approval for the step 3
license area of the project.
The FTSE 100 mining company said it now expects the project to
produce between 18 million and 20 million metric tons next year,
compared with previous guidance of 16 million to 19 million tons.
The company said it expects unit costs for Minas-Rio of between $28
and $31 a ton, down from the previous guidance of $30 to $33.
Anglo American said access to the step 3 area of the project
will provide greater operational flexibility and access to
higher-grade iron ore. This will support increasing production
toward its full-design capacity of 26.5 million tons a year, the
company said.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
December 24, 2018 02:37 ET (07:37 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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