Ferrous Resources

Ferrous Resources Ltda. is a Brazilian mining company engaged in the research, exploration, exploitation, processing and marketing of iron ore.[1][2]

Ferrous Resources
IndustryMining
Headquarters
Belo Horizonte
,
Brazil
Area served
Minas Gerais, Espírito Santo, Rio de Janeiro e Bahia
Websiteferrous.com.br

Founded in 2007, Ferrous Resources is based in Belo Horizonte (MG).[3] Ferrous has five mines in Minas Gerais[2][4] and is currently exploring the viability of a potential mineral asset in Bahia.[5] 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.[2][4]

Performance and geographical footprint

Ferrous’ mineral assets are located in the Iron Quadrangle in Minas Gerais[1][4] and in Coração de Maria, Bahia.[5] 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 aims to increase their rate of production to 17 million tons per year by 2016 and 40 million tons per year by 2026.[2][4]

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.[2][4][6]

Recent news

In September 2013, Ferrous Resources sold an $80 million stake (14.4%) in the firm to Eastern European mining firm Ferrexpo.[7]

In 2019, Ferrous Resources was acquired by Vale S.A., a global mining company headquartered in Brazil. Vale said the "completion of this acquisition is aligned with Vale’s strategy of maximizing the flight to quality in the Iron Ore business."[8] However, a temporary stop in the operations of Vale was made because of some inconsistency in documents.[9]

References
  1. "Ferrous Resources Ltd - The Sentient Group". Archived from the original on 2012-09-15. Retrieved 2012-07-17.
  2. "Ferrous Resources Ld: Ferrous Resources Completes Strategic Review - Yahoo UK and Ireland". Archived from the original on 2012-09-15. Retrieved 2012-07-17.
  3. Company Overview of Ferrous Resources do Brasil Ltda. - Bloomberg Businessweek
  4. Ferrous Resources Outlines Brazilian Iron Ore Output Growth Plan - Fox Business
  5. "The Mine of Ferrous Resources receives international certification - Valor". Archived from the original on 2016-03-04. Retrieved 2012-07-17.
  6. Brazil's Ferrous plans tenfold iron-ore growth - Yahoo UK and Ireland
  7. Ferrexpo acquires $80 million stake in Brazilian miner, International: Reuters, 2013
  8. "Vale announces the completion of the Ferrous Resources Limited's acquisitio". www.vale.com. Retrieved 2020-04-15.
  9. "Brazil court says could annul Vale acquisition of Ferrous Resources". Reuters. 2019-11-07. Retrieved 2020-04-23.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.