Anglo restarts Minas-Rio but expects $320m loss
The extensive repairs and maintenance of the pipeline included the replacement of a 4km section
Anglo American restarted its Minas-Rio iron ore mine and pipeline in Brazil after a shutdown of almost nine months, which generated a $320m loss for the business. Minas-Rio is one of the most closely watched assets in Anglo after it spent more than $13bn buying and building the project, running over budget and time. Anglo shut the 529km pipeline linking the mine to the coast at the end of March after it sprang a number of leaks, spilling iron ore slurry into the environment. The extensive repairs and maintenance of the pipeline since then, including the replacement of a 4km section, have been completed and the mine has resumed operations after securing regulatory approvals to do so, CEO Mark Cutifani said on Friday. “The extensive analysis confirmed the sound condition of the pipeline and we have taken a number of preventative measures to provide additional reassurance for the long term,” he said. Among the preventative measures Anglo has put in place is reducing the inspection time...
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