Anglo American flags lower earnings amid Minas-Rio outage

Anglo American is anticipating a reduction of about $300-400 million in earnings for 2018 due to an outage at its Minas-Rio iron ore operations in Brazil, where it does not expect to resume material production for the remainder of the year.

"The current expectation is that the operations will begin to ramp up in the fourth quarter of 2018," the miner said on Tuesday April 24. Output at Minas-Rio dropped 30% in comparison with a year earlier to 3 million tonnes in the three months to March, the miner said in a separate production report released on the same day. Anglo had a previous guidance of 13-15 million tonnes...

Published

Deepali Sharma

April 24, 2018

08:50 GMT

Singapore