CENTRAL/SOUTH AMERICA STORIES

Minas-Rio and the long game

The ramp-up is taking place. Seventeen (most likely 18, now) ships have docked, been filled with ore and departed. The slurry is moving as it should 529km from the mine to the Açu port, and the filtration plant is turning the sludge into a readily saleable product. Seven years after completing the transaction to fully acquire Minas-Rio it is no wonder Anglo American is pleased.

The asset, which it acquired for US$5.5 billion in two stages (includes the purchase of the Amapá asset), paid $8.4 billion to construct, and wrote down by more than $8.5 billion, is finally heading for...

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