Anglo American will begin shipping iron ore from its Minas Rio mine in Brazil in July 2013, according to port company LLX Logistica.

LLX CEO Leonardo Gadelha said the company had made a new agreement with Anglo American including a fixed tariff to use the port.

According to the new agreement, the penalty will be less than previously agreed for the delays in the start-up of the Anglo iron ore shipping operation.

Anglo American will begin its operations at its Mina Rio mine in 2012 with an investment of R3.4bn ($2bn).

The mine will be linked to LLX’s Acu port by a slurry pipe stretching about 525km, which will carry iron ore mixed with water to the port.

The Minas Rio project, built to produce 26.6 million tons a year of iron ore initially for export, is two years behind its original schedule due to a combination of market and environmental licensing factors.