Infignos Media -- buyersUSA Consulting
NOW PLAYING
15 Radio Streams
Click Here
The Downtown Market
Advertise Here

From Energy - Mining / Metals

Brought to you by Frontera Bar & Grill

Mexican quisine at it's finest. For lunch, dinner or take out, visit Frontera Bar & Grill 1750 Hamric Dr E Oxford, AL 36203? (256) 835-9905

Erectile Dysfunction

Anglo American update on Minas-Rio iron ore project

Tue, 13 Nov 2012 10:44:06 EST

Anglo American plc ('Anglo American') announces an update in relation to its 26.5 mtpa Minas-Rio iron ore project in Brazil.

In its Half-Year Financial Report in July 2012, Anglo American reported that, subject to resolving the existing licensing challenges facing the Minas-Rio project by the end of 2012 and not encountering additional unexpected interventions, first ore on ship was anticipated to be delayed to the second half of 2014.

Since July, work has continued to resolve the licensing challenges. These included three injunctions affecting construction activities at the beneficiation plant, as well as land access issues affecting the 525 km pipeline route.

Two of the three injunctions were satisfactorily removed during September 2012, enabling construction of the primary crusher and conveyor system at the mine site and pre-stripping work to resume. The third injunction, which affects the construction of the electricity transmission line, remains, despite the licence having been awarded in March 2012, and efforts to resolve the issue continue with the regulatory and governmental authorities. Work also continues to complete the land access programme for the pipeline.

Construction progress is on schedule in relation to the elements of the project programme that are unaffected by legal or land access constraints.

Anglo American is carrying out a detailed cost review to assess the impact of the already announced delay and the other disruptive challenges faced by the project which include high cost inflation across the construction industry in Brazil. The review includes an independent external assessment commissioned by the Board.

Anglo American will provide further detailed information in relation to Minas-Rio when the cost review has been completed and the remaining challenges affecting the project timetable have been resolved. However, the current indications are that capital expenditure for the project is unlikely to be less than the $8.0 billion upper end of the current range of analysts' expectations.

Notes to editors:

Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American's portfolio of mining businesses spans bulk commodities – iron ore and manganese, metallurgical coal and thermal coal; base metals – copper and nickel; and precious metals and minerals – in which it is a global leader in both platinum and diamonds. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations, extensive pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.

www.angloamerican.com


Source: WebWire



From Our Blogs

Fun DIY Projects for Back to School

Personalizing and accessorizing school supplies, lockers and work spaces can be a simple antidote.

Tips to Save for College

More than a few households are coping with “sticker shock” when it comes to higher education costs.

$17.33 Per Hour = Happiness?

New Research Shows Happiness Doesn't Increase over $69,300 in Alabama

Help Kids Stay Organized for a Fresh Start this School Year

By studying smarter, staying organized and keeping motivated, students can learn to juggle it all.


Sign up for our weekly newsletter.

Our Website Sponsors

Sunny King Ford

We offer new Ford cars, trucks, SUVs and crossovers online at www.sunnykingford.com. Call 256-831-5300.

Valley Heating and Cooling

It's hard to stop a Trane. Your local heating and cooling company. Located in Saks at 521 Post Oak Road. Call us at 256-820-3369.

Sunny King Toyota

Sunny King Toyota has received almost as many accolades as our Toyotas,including more than 25 prestigious industry awards from Toyota and Southeast Toyota. Stop by to see how all of this can benefit you! 2570 US Hwy 78 E, Anniston.1-800-365-3001

Allstate Insurance- Jerry McCullers

As a Personal Financial Representative in Anniston, I know many local families and can help with all of your insurance needs. Call me at 256-237-1100.

Sunny King Honda

Come in for special pricing and financing. Special APR as low as 0.9%. 2580 US Highway 78 East, Anniston. 256-343-4216. www.SunnyKingHonda.com.