Cosan mine to debut in 2025 with 10 million tons per year

JV Mineração, a new project by the Cosan group in partnership with businessman Paulo Brito, should start operating in 2025 with a production of around 10 million tons of iron ore per year. The perspective, however, is that production will increase.

The company, whose creation was announced on the 23rd, should explore at least three mineral projects in the State of Pará. The first of them is near Paraupebas (PA), in the Carajás region.

“We have already done nearly 50 thousand meters [square] of drilling in the region and we intend to do another 80 thousand meters next year. Today, we can say with great confidence that we have 2 billion to 3 billion mineral resources to be able to transform into mines. With the survey, we expect this number to grow reasonably,” said Juarez Saliba, an executive who took charge of the new business.

The idea is to seek market niches through the production of quality iron ore sold at higher premiums. “We are going to produce a very high-quality ore, with an iron content above 67%”, he said.

The ore will be transported through the Carajás Railroad (operated by Vale) to Porto São Luís, which was also acquired by Cosan. The agreement for the purchased port terminal, which is completely private, will be for R$720 million. Today, the asset is owned 51% by CCCC (China Communications Construction). The remaining 49% belonged to WPR, the infrastructure company of the WTorre group, and to Lyon Capital, founded by Paulo Remy.

Source: Valor Econômico

To read the full original article, visit the link:

https://valor.globo.com/empresas/noticia/2021/08/25/mina-da-cosan-deve-estrear-em-2025-com-10-milhoes-de-tonelas-ao-ano.ghtml

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