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Anglo American To Take £287m Profit Hit From Cracked Pipeline In Brazil

by telegraph.co.uk posted 5months ago 30 views
Mining group Anglo American expects its profits for the year to be $300m to $400m (£215m to £287m) lower after being forced to suspend operations at an iron ore mine in Brazil due to a cracked pipe. Production at Anglo’s Minas Rio mine has been halted for 90 days to allow the company to make a thorough inspection of the oil slurry pipeline that had sprung what it called two “minor” leaks. Last year Minas Rio produced 16.8m tonnes of iron ore, used to make steel.

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