en.Wedoany.com Reported - Anglo American Brasil released its operational and financial results for the first half of 2026 (1S26) on Thursday (30th), with its Minas-Rio system maintaining stable iron ore production and full-year production guidance unchanged, while setting a record for iron ore shipments at the Porto do Açu in Rio de Janeiro during the period.
From January to June this year, the Minas-Rio system produced 12.9 million tonnes of high-quality iron ore, broadly in line with the 13.1 million tonnes produced in the first half of 2025. The company stated that higher plant utilization and improved operational efficiency were the main drivers behind the stable output, supported by more consistent ore supply during the rainy season, with these factors offsetting the impact of lower ore grades and reduced quality recovery rates.
Despite stable operations, Minas-Rio's underlying EBITDA fell 13% year-on-year, from US$561 million to US$486 million. The company attributed the decline primarily to lower realized iron ore prices and higher unit costs, partially offset by a slight increase in sales volumes.
Unit costs rose to US$33 per tonne, up 13% from US$29 per tonne in the first half of 2025. The company explained that the appreciation of the Brazilian real against the US dollar and inflationary pressures pushed costs higher, though ongoing cost-reduction programs and operational efficiency initiatives partially offset the impact.
In the nickel business in Goiás state, total production for the first six months of 2026 reached 18,200 tonnes, down 6% from 19,300 tonnes in the first half of 2025. Anglo American said this reflects corrective maintenance and planned downtime scheduled in advance at the Barro Alto and Codemin plants.
Nickel underlying EBITDA also declined from US$43 million to US$18 million, mainly dragged down by higher unit costs and lower sales volumes. The company also noted that higher realized prices partially mitigated these effects.
Ana Sanches, CEO of Anglo American Brasil, said: "Our operations in Brazil delivered a solid first-half performance. Amid global volatility, the stability of our operations in the country underscores the strength of our assets, the quality of our teams' work, and Anglo American's ongoing commitment to responsible, efficient, and safe mining."
The company confirmed it maintains its annual iron ore production guidance for Minas-Rio at 24–26 million tonnes. In addition, the company stated that, as previously announced, the regulatory approval process for the sale of its nickel business remains ongoing.
Record shipments at Porto do Açu were another highlight of the quarter. In June, the Anglo American terminal at Porto do Açu, located in São João da Barra, Rio de Janeiro state, shipped a total of 2.78 million wet metric tonnes of iron ore across 16 vessels bound for markets in Asia, Europe, and the Middle East, surpassing the previous record of 2.77 million tonnes set in December 2024.
Commenting on this achievement, Ana Sanches said: "Being able to ship a record volume of ore is the result of an integrated effort involving all teams, from mine to port. It is the outcome of extensive planning, collaboration, and employee dedication, reflecting our continued focus on safety, quality, and operational excellence."
