Anglo American Ships First Iron Ore from Minas-Rio

Anglo American says it has delivered the first iron ore shipment of 80,000 metrics tons from its Minas-Rio project in Brazil.

According to Bloomberg:

The first cargo of more than 80,000 metric tons of the steel-making mineral was loaded at the port of Acu in Rio de Janeiro state and the vessel is en route to customers in China, London-based Anglo American said today in a statement. The project will ramp up to its capacity of 26.5 million tons per year over the next 18 to 20 months, Paulo Castellari, chief executive officer of Anglo American’s iron ore-unit in Brazil, said in the statement.

Mark Cutifani, chief executive officer of Anglo American, said:

We believe that the outlook for our particular premium product remains attractive, despite the current weakness in the iron-ore price.

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