Chinese Consortium finances Pedra de Ferro iron mine (linked to project #62077, #62855, #62856)

In September 2017, the Brazilian state of Bahia, Bahia Mineração (Bamin) (a Brazilian subsidiary of Eurasian Resources Group), and a Chinese consortium agreed to fund the project of the Pedra de Ferro iron ore mine. The Chinese consortium is comprised of China Railway Group, China Communications Construction Co., Ltd., and Dalian Huarui Heavy Industry Group. Bamin completed a US $200mn feasibility study for the project in August 2010 and was awarded an operating license in June 2014 (Minex Forum). The Pedra de Ferro mine will develop high grade, large-scale iron ore reserves located near the city of Caetité, in Bahia. Once operational, the Pedra de Ferro mine will supply up to 20mt of high quality iron ore to global markets annually (Splash). This project is linked to project #62077, the overarching project of an MoU worth $2.4 billion between the Bahia government, BAMIN, and the Chinese consortium for the development of an integrated mining and logistics project in Brazil. The other sub-projects of this agreement are #62855, the Porto Sul deep-water port; and #62856, the Fiol railway. The projected date of full operation for these projects is 2024 (Bahia State Government) The transaction amount and current status of this project are unclear.

Additional details

This project is a subproject of #62077, an MoU for the development of a $2.4 billion integrated mining and logistics project in Brazil. Sources vary on what the date of the signing of the MoU is- Metro 1 says it was on September 1st, Mining News says it was September 4th, Minex Forum says it was September 5th.

Number of official sources

3

Number of total sources

8