Anglo American: Operations Resume at Minas-Rio -- Update
December 21 2018 - 7:40AM
Dow Jones News
(Updated with context.)
By Carlo Martuscelli
Anglo American PLC (AAL.LN) said Friday that operations had
resumed at its Minas-Rio iron-ore operation in Brazil following
work at the mine.
The company said it had carried out an inspection of the 529
kilometer pipeline that carries iron-ore slurry from the mine to
the port, and had replaced certain sections of the pipeline where
it had identified leaks of non-hazardous materials.
The project is expected to produce between 16 million and 19
million tons of wet-basis iron ore in 2019, the miner said. Anglo
American is now guiding for an underlying loss in earnings before
interest, tax, depreciation and amortization at Minas-Rio of $320
million for 2018. It previously saw a loss in the range of $300
million and $400 million.
The FTSE 100-listed miner announced the suspension of works at
the iron-ore project in April after finding a minor leak in a
pipeline.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
December 21, 2018 07:25 ET (12:25 GMT)
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