Minas-Rio Impairment Considerations and Project Delivery
Fe US$/t
.
BUSINESS CASE FOR MINAS-RIO REMAINS INTACT
Good future fundamentals
Medium to long term fundamentals for iron ore remain
robust
180.0
160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
Average spot price
Consensus long term
price $80/t (2012)
0.0
2006 2007 2008 2009
2010
2011 2012
Source: UBS, Anglo American
Significant increase in resource
Delineated 5.8 bn from 1.2 bn tonnes of Mineral Resources
1.2
2007
~5x
5.8
2012
Source: Anglo American Annual Reports and Competent Person Reports. Due to the
uncertainty that may be attached to some Inferred Mineral Resources, it cannot be assumed
that all or part of an Inferred Mineral Resource will necessarily be upgraded to an Indicated
or Measured Resource after continued exploration. Minas-Rio project pipeline represents
Itapahoacanga and Serra Do Sapo only
4View entire presentation