Anglo American plc (LON:AAL) told investors that it has received an operating licence for the next phase at its Minas-Rio tailings facility in Brazil.
It comes after work to raise the tailings dam, as part of the project's 'Step 3' licence.
"This is an important milestone for our Minas-Rio iron ore operation in Brazil towards reaching its full potential,” said Seamus French, chief executive of Anglo American Bulk Commodities.
“Minas-Rio has a long asset life of 48 years and produces a high grade, premium quality product for our customers, supporting lower emissions in the steel industry.
“We expect Minas-Rio to produce 23 million tonnes in 2019, with an FOB unit cost of c.US$24 per tonne."