Iron ore and nickel prices boost Anglo American’s results in Brazil
Aug, 02, 2021 Posted by Ruth HollardWeek 202131
Against a backdrop of rising commodity prices and firm global demand, mining and metals company Anglo American concluded the first half of its operations in Brazil with strong growth. The Brazilian subsidiary, which works with iron ore and ferronickel, ended the middle of 2021 with earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$ 2.012 billion.
The result represented a growth of 133% compared to the same period last year — US$ 863 million. During that period, the impact of the Covid-19 pandemic was felt, mainly between April and June. “In this semester, which ended in June, we did the same amount as in the whole year of 2020”, said Wilfred Bruijn, president of Anglo American Brasil.
The iron ore division, operated by the Minas-Rio System which transports the material to Porto Açu through a pipeline, grew 135%, driven by the high price of steel raw material. It went from an EBITDA of US$ 799 million to US$ 1.877 billion.
Source: Valor Econômico
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