Minas Rio is a major new mining project in Brazil being developed by Anglo American. The company purchased 49% of the project from MMX in 2007 and the remaining 51% in 2008, for a total purchase price of US$5.5 billion. The production commenced in 2014 with just 0.6 million tonnes. Concentrate output is forecast to reach a maximum level of 26.5 Mtpa by 2018. Minas Rio's capital cost has more than tripled from original estimates of US$2.6 billion, to current totals approaching U$9 billion.
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