Anglo Secures Operating Permit for Minas-Rio Iron Ore Project

The Globe and Mail reported that Anglo American Plc (LSE:AAL.OTCMKTS:AAUKY) has obtained an operating license for its $14 billion Minas-Rio iron ore mining project in Brazil.

As quoted in the publication:

The permit, from Brazil’s environmental-protection agency Ibama, is for the project’s mine and processing plant in Minas Gerais state, Anglo American said in a statement. The company expects to produce between 11 million and 15 million tonnes of iron ore in 2015, with output capacity rising to 26.5 million tonnes a year some time in 2016.

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