Anglo secures key environmental permit for Minas-Rio
- Publishing Date
- 10 Dec 2010 12:04pm GMT
- Mining Journal
Anglo American plc has secured a key permit for its 5,000Mt Minas-Rio iron-ore project in Brazil. This allows it to begin civil works for the beneficiation plant, tailings dam and construction of the mine. Full production is scheduled for the September quarter of 2013.
On Friday the company said: “As the development of the project progresses, there will be a number of other licences and permits to be obtained, but the Mine LI part 2 allows Anglo American to make further substantial progress towards the delivery of this world class iron-ore project which includes a mine, a beneficiation plant, a 525km slurry pipeline and a port facility.”
In its half year results to end-June, Anglo said delays in obtaining environmental and standards permitting for the 26.5Mt/y operation were putting pressure on the timing of the project while capital costs are expected to increase project costs by US$210 million.
It also said that construction and commissioning of mine and plant would take up to two and a half years after the granting of these licences, permits and land access.
Last year, the capital cost of the project increased from US$2.7 billion to US$3.8 billion.
Companies in this article
Visit the links below to read profiles, see stock information and read all news on companies mentioned in this article.
ALSO IN THE ARCHIVE...
More News By Subject
Recently published Reports:
No results were found