The Minas-Rio project is located in the state of Minas Gerais, Brazil and will include open pit mines and a beneficiation plant producing high grade pellet feed which will be transported, through a slurry pipeline, over 500km to the Port of Açu in the state of Rio de Janeiro. The project will largely be based on the two main deposits of Serra do Sapo and Itapanhoacanga. Two ore types, Friable and Hard Itabirite, have been identified at Serra do Sapo and Itapanhoacanga. Only the Friable Itabirite at Serra do Sapo is being considered for Phase 1 of the project. The planned annual capacity of Phase 1 is 26.5Mtpa of iron ore pellet feed (wet tonnes), for start up during the second quarter of 2012.
The estimates of Mineral Resources have been audited by an independent Qualified Person from SRK who has compiled a NI 43-101 compliant Technical Report. In the case of the Serra do Sapo deposit a new Mineral Resource estimate was prepared in 2008 by Anglo Ferrous Brazil and audited by SRK. The Mineral Resources are also JORC compliant. The Qualified Person has consented to the inclusion of the resources in the table below, and associated footnotes, and agrees with the context and form in which they occur.
The figures reported represent 100% of the Mineral Resources. Anglo American plc’s effective interest in the Minas Rio Project is 99.4%. Rounding of figures may cause computational discrepancies.
|Measured and Indicated||83.0||83.0||40.3||40.3|
|Measured and Indicated||–||–||–||–|
|Serra do Sapo (OP)(5)||99.4||%Fe||%Fe|
|Friable Itabirite and Hematite(6)||Measured||462.0||–||38.1||–|
|Measured and Indicated||1,027.8||222.0||37.8||41.0|
|Measured and Indicated||1,650.5||171.0||31.0||34.8|
Anglo American acquired an effective 69.2% interest in the Amapá project during 2008. During 2008 new exploration drilling was conducted within the project mineral rights area. A resource and reserve estimate incorporating all project data will be prepared in 2009.