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The Barro Alto project is located in the state of Goias, Brazil, approximately 170km from Anglo American’s existing Codemin nickel operation. The project was approved in December 2006 and first metal was produced on schedule in March 2011 at a capital cost of $1.9 billion. Average production over the 26 year life of mine will be 36 ktpa of nickel. Once at full production, the operation is expected to be in the lower half of the cash cost curve, and will more than double Anglo American’s nickel production. Conventional smelter-refinery technology will be used to process the saprolite ore to produce ferro-nickel, which is a technology already used by Anglo American at its existing nickel operations.

The Jacaré project is located in Brazil and, at full production, is expected to operate in the lower half of the cost curve. Phase 1 of the project could potentially deliver 35 ktpa of nickel, with Phase 2 potentially delivering a further 50 ktpa with cobalt by-products.

Morro Sem Boné is located in Brazil and is expected to operate in the lower half of the cost curve.