Miner Anglo American Plc said it secured a 25-year port tariff agreement for the Minas Rio iron ore project in Brazil and will fund a greater share of the development cost of the first phase of the port.
Anglo expects to spend an additional $525 million relating to the port, taking the miner's total share of development costs to about $1.2 billion.
Initial works on Minas Rio, one of Anglo's biggest growth projects, is expected to begin in March after being hit by delays and cost increases.
Anglo expects to spend an additional $525 million relating to the port, taking the miner's total share of development costs to about $1.2 billion.
Initial works on Minas Rio, one of Anglo's biggest growth projects, is expected to begin in March after being hit by delays and cost increases.