Ferrous Resources
 | |
| Industry | Mining |
|---|---|
| Headquarters | , |
Area served | Minas Gerais, Espírito Santo, Rio de Janeiro e Bahia |
| Website | ferrous.com.br |
Ferrous Resources Ltda. is a Brazilian mining company engaged in the research, exploration, exploitation, processing and marketing of iron ore.[1][2]
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
[edit]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:
- Serrinha and Esperança in the city of Brumadinho (MG)
- Viga, in Congonhas (MG)
- Viga Norte, in Itabirito (MG)
- Santanense, in Itatiaiuçu (MG)
- Jacuípe, in Coração de Maria (BA)
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
[edit]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
[edit]- ^ a b "Ferrous Resources Ltd - The Sentient Group". Archived from the original on 2012-09-15. Retrieved 2012-07-17.
- ^ a b c d e "Ferrous Resources Ld: Ferrous Resources Completes Strategic Review - Yahoo UK and Ireland". Archived from the original on 2012-09-15. Retrieved 2012-07-17.
- ^ Company Overview of Ferrous Resources do Brasil Ltda. - Bloomberg Businessweek
- ^ a b c d e Ferrous Resources Outlines Brazilian Iron Ore Output Growth Plan - Fox Business
- ^ a b "The Mine of Ferrous Resources receives international certification - Valor". Archived from the original on 2016-03-04. Retrieved 2012-07-17.
- ^ Brazil's Ferrous plans tenfold iron-ore growth - Yahoo UK and Ireland
- ^ Ferrexpo acquires $80 million stake in Brazilian miner, International: Reuters, 2013
- ^ "Vale announces the completion of the Ferrous Resources Limited's acquisitio". www.vale.com. Retrieved 2020-04-15.
- ^ "Brazil court says could annul Vale acquisition of Ferrous Resources". Reuters. 2019-11-07. Retrieved 2020-04-23.