Industry Mining Headquarters Belo Horizonte Parent organization Ferrous Resources Limited | Website ferrous.com.br Founded 2007 | |
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Area served Minas Gerais, Espírito Santo, Rio de Janeiro e Bahia | ||
News update ferrous resources put off ipo for second time in past two years due to volatility
Ferrous Resources Ltda. is a Brazilian mining company engaged in the research, exploration, exploitation, processing and marketing of iron ore.
Contents
- News update ferrous resources put off ipo for second time in past two years due to volatility
- Performance and geographical footprint
- Recent news
- References
Founded in 2007, Ferrous Resources is based in Belo Horizonte (MG). Ferrous has five mines in Minas Gerais and is currently exploring the viability of a potential mineral asset in Bahia. The company is also working on the implementation of an integrated logistics system, which includes the development of a significant slurry pipeline across three Brazilian states, as well as the construction of a new port terminal in Espírito Santo.
Performance and geographical footprint
Ferrous’ mineral assets are located in the Iron Quadrangle in Minas Gerais and in Coração de Maria, Bahia. They are accessed and processed by the following mines:
The quantity of mineral resources in these areas allows Ferrous to produce a significant amount of iron ore. The firm aim to increase their rate of production to 17 million tons per year by 2016 and 40 million tons per year by 2026.
To ensure the successful operation of the mines of the Iron Quadrangle, Ferrous has also embarked on the construction of a 400 km slurry pipeline.
Recent news
In September 2013, Ferrous Resources sold an $80 million stake (14.4%) in the firm to Eastern European mining firm Ferrexpo.