All data is delayed
Loading...
See More

Minas Rio unlikely to cost less than $8bn

Nov 13 2012 12:32
Reuters

Company Data

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 150
Change 3
% Change 2
Cumulative volume 2954176
Market cap 0

Last Updated: 28-08-2015 at 05:05. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Brazil big blow for Anglo

 
London - Anglo American [JSE:AGL] raised the estimated cost of its problematic Minas Rio iron ore project on Tuesday, telling investors it was unlikely to cost less than $8bn, the higher end of analyst forecasts.

Analysts have long said spending at the Brazilian project could rise to at least $8bn from previous Anglo forecasts of $5.8bn, already twice original estimates.

"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," Anglo said.

"The review includes an independent external assessment commissioned by the board."

Anglo said it would provide further detail once the cost review has been completed.
anglo american  |  iron ore

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Myths that funding and red tape are the two biggest challenges faced by emerging companies and entrepreneurs, have been debunked by a report.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb’s possible intervention in the markets to stem the rand’s fall is:

Previous results · Suggest a vote

Loading...