[VIDEO] Anglo American: Update on Minas-Rio Project
Anglo American (LSE:AAL) (JSE:ANGLO) has released a visual update on the development of its Minas-Rio iron ore project in Brazil. The video showcases the progression of the mining operation from November 2013 until July 2014 as well as reveal the current state of construction on the project.
The 100 percent owned project is located in the states of Minas Gerais and Rio de Janeiro in Brazil. When completed, the $8 billion mining complex will include open-pit mines, a beneficiation plant, a 535km slurry pipeline, filtering plant and an export terminal at the Atlantic port of Acu in Rio de Janeiro.
"The 529 km pipeline to the port at Açu has been laid. At the port, construction is continuing as scheduled and good progress has been made on the breakwater, with 26 of 33 caissons installed for first ore on ship. Further progress continues to be made in obtaining the outstanding licenses required," CEO Mark Cutifani said last month in its interim results for H1 2014.
According to the video, commission activities are underway, include testing with ore. Mining equipment has been assembled and ready to go and all phases of production are currently undergoing final testing. Over 1,500 employees have been trained for the operational phase.
It appears Anglo American is well on its way to delivering the first shipment of iron ore by the end of 2014
The mine is expected to produce 27 million tons of iron ore over a 28 year mine life.