ANGLO AMERICAN CONSIDERS MINAS-RIO AS "A MISTAKE"

Mark Cutifani, CEO of Anglo American, said in an interview that the company made "a mistake" when bought the Brazilian iron ore project Minas-Rio.

The decision, taken before the financial crisis of 2008, was from the ex-CEO Cynthia Carrol.

"There is no doubt it was a mistake. We paid too much for the resource and we did not deliver" said Mark Cutifani.

Anglo American bought the projet for US$ 5 billion and spent US$ 8.3 billion building it.

The decision is considered by analysts the company's worst and major contributor to Anglo American's debt struggles.