Anglo American Says Court Rulings Affect Minas Iron Ore Project

Bloomberg reported Anglo American Plc (LSE:AAL) said two rulings by local courts in Brazil may have “some sort” of impact on the timeframe of its Minas Rio iron-ore project.

As quoted in the market news:

Minas Rio has suffered time and budget overruns since Anglo bought the assets in 2008. Anglo revised costs for the project, its largest, for at least a fourth time, to as much as $5.8 billion in December. Anglo is still scheduled to start production at Minas Rio in the second half of 2013.

Click here to read the full Bloomberg report.