Anglo’s Minas-Rio to Lift Ebitda by $560 Million, Bernstein Says
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Anglo American Plc’s Minas-Rio project in Brazil, which yesterday delivered its first iron ore by ship, could add about $560 million to the company’s earnings, Sanford C. Bernstein said in a report.
The mine’s contribution to earnings before interest, tax depreciation and amortization by 2016 is based on an iron ore price of $80 a ton and freight rates of $20 a metric ton, Bernstein analyst Paul Gait said today. “We consider successful execution on Minas-Rio as the key determinant of a potential re-rating of Anglo American and the long-term success for the company.”