- Anglo American announced the receipt of regulatory approval relating to the Step Three licence area of the Minas-Rio operation in Brazil.

Access to the Step Three area provides greater operational flexibility and access to higher grade iron ore to support the increase of production of the operation towards its full design capacity of 26.5m tonnes per year.

As a result of this important regulatory approval, production guidance for 2019 is increased to 18-20m tonnes (wet basis), from the previous guidance of 16m to 19m tonnes (wet basis).

Unit cost guidance for Minas-Rio is lowered to $28 to $31 per tonne (FOB, wet basis), from the previous guidance of $30 to $33 per tonne.

Updated production guidance for 2020 and 2021 will be provided in due course. At 8:21am: [LON:AAL] Anglo American PLC share price was -23.9p at 1727.7p

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