

(Posted on 11/12/24)
Anglo American plc has announced the completion of the transaction to combine the Serra da Serpentina high quality iron ore resource owned by Vale SA into Anglo American’s Minas-Rio operation in Brazil, following the agreement announced on 22 February 2024. The premium quality Serpentina iron ore resource is contiguous to, and will be integrated into, Anglo American’s Minas-Rio operation in Brazil, in partnership with Vale. Anglo American will continue to control, manage and operate the Minas-Rio operation, including any future expansions that relate to Serpentina.
Under the transaction’s terms, Vale is transferring Serpentina and will pay US$157.5 million in cash (subject to completion and commodity price related adjustments(1)) to acquire a 15% shareholding in the enlarged Minas-Rio. Vale also has an option to acquire an additional 15% shareholding in the enlarged Minas-Rio for cash if and when certain events relating to a future expansion of Minas-Rio occur, with value to be determined at the time of option exercise(2).
Duncan Wanblad, Chief Executive of Anglo American, said: “This is a compelling example of industrial logic – putting together the contiguous resources of Minas-Rio and Serpentina to unlock significant value. Integration will generate material synergies through utilisation of Minas-Rio’s infrastructure to accelerate the development of Serpentina. It’s an outstanding resource with a total orebody strike length more than double that of Minas-Rio with a higher iron ore grade than Minas-Rio’s premium grade ore as well as softer, friable ore, which should translate into lower unit costs and capital required for its extraction.
“Integrating Serpentina creates scope to double our production of premium grade pellet feed products for decades to come and so help our steelmaking customers decarbonise their processes. The Minas-Rio DRI-grade product already sells into one of the most attractive growth and premium segments available in our industry today. The optimal development pathway is already being assessed as part of the pre-feasibility work with new options created by the fact that we will now be able to access Vale’s rail and port logistics.”
Anglo American is also progressing development of the margin-enhancing UHDMS processing technology at Kumba’s Sishen mine in South Africa that was announced in August. This will allow Sishen to treble its proportion of premium quality production volume. Together these initiatives will significantly enhance our global premium iron ore business and position it even more strongly for future demand trends – another valuable step as we create a world class copper, premium iron ore and crop nutrients business.
Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more
Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more
The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more
As of April 25, 2025, farmers in all regions of Ukraine have sown 2M hectares (ha) of spring grain and... Read more
GrainCorp’s rail site at Condobolin, in the heart of central west New South Wales, Australia,... Read more
Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have... Read more
BHP has released its Operational Review for the nine months ended 31 March 2025.BHP Chief Executive... Read more
The volume of world merchandise trade is expected to decline by 0.2% in 2025 under current conditions... Read more
In a strategic move to empower UAE exporters and advance the nation’s economic diversification... Read more
Anglo American plc has noted the recent statement issued by Peabody Energy in relation to the definitive... Read more