Pipeline leaks hit production, costs miner $400 million

Posted On: Apr. 25, 2018 5:56 AM CST

U.K.-based miner Anglo American P.L.C. is likely to lose up to $400 million in annual group earnings due to a delay in production at its Minas Rio iron ore mine in Brazil, Mining.com reported. Production has been delayed until the fourth quarter due to two pipeline leaks at the mine. The leaks have cost the company $58 million in fines.