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Brazilian iron ore mining project needs $6.0 bil-有色金属展-铜材展-2025年广州国际有色金属工业（铜业）展览会-Non-Ferrous Metals Exhibition-Copper Exhibition-The 25th China(Guangzhou) Int'l Non-Ferrous Metals (Copper) Exhibition
10/14/2024 有色金属展-铜材展-non-ferrous metals expo |
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Bahia Mineracao -- BAMlN, an iron ore project with mine in Caetté, state of Bahia and port in lheus, also in Bahia, are in urgenneed for an investor to allocate $6.0 bilion for the conclusion of the construction works which include a rallroad inking mine andport.
The main attraction of the project is its iron ore, a pellet-feed grade product with iron contents of up to 68 percent that could be
produced at a pace of 26.5 million mt per year.Bamin is currently owned by the Eurasian Natural Resources Group - ERG, but according to analysts, the conclusion of theproject became too expensive and of high risk for a single investor, as its proftability requires the conclusion of mine, rairoad, andport works to operate as an export corridor
According to the local press, the local iron ore miner, Vale, is considering the acquisition of the project, counting on the support ofthe federal and Bahia state governments with the participation of BNDES, the country''s federal development bank
If the negotiations succeed, it would be the first greenfield project to be developed by Vale since the Carajas project, in the north ofthe country, during the decade of 1980.
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