Anglo American raises 2019 guidance for Minas Rio

Anglo American raised 2019 guidance for its Minas-Rio iron ore operation in Brazil after receiving regulatory approval relating to the Step 3 licence area.

The mining giant said it now expected production to be 18m -20m tonnes (wet basis), from the previous guidance of 16m -19m.

Anglo said access to the Step 3 area provided greater operational flexibility and access to higher grade iron ore to support the increase of production of the operation towards its full design capacity of 26.5m tonnes per year.

Unit cost guidance was lowered to $28-31 per tonne, from the previous guidance of $30-33 per tonne.