Eurasian Resources Group’s BAMIN signs sales agreement on exports from Pedra de Ferro mine in Brazil
Agreement was signed between BAMIN and Anglo American to purchase the full 2023 production volumes of high-quality iron ore from BAMIN’s Pedra de Ferro mine
BAMIN, the wholly owned Brazilian subsidiary of leading natural resources group Eurasian Resources Group headquartered in Luxembourg, has signed an agreement with Anglo American, a global diversified mining company, which guarantees the acquisition of the full export volumes of BAMIN’s Pedra de Ferro mine for 2023.
The Pedra de Ferro open pit iron ore mine, located in the city of Caetite, State of Bahia, has been in production since late 2020, supplying both domestic and export markets with high quality direct shipping ore – which in 2022 averaged 65.5-66% Fe DSO fines. Pedra de Ferro has a current production capacity of up to 1 million tons per year.
With this agreement, Anglo American will exclusively purchase all of BAMIN’s export iron ore for the production year of 2023.
Benedikt Sobotka, CEO of Eurasian Resources Group, said, “It gives me great pleasure to announce the sale of BAMIN’s 2023 iron ore exports to Anglo American. The signing of this contract builds on previous sales agreements between Anglo American and BAMIN for standalone exports and once again demonstrates BAMIN’s position as a high-quality supplier of iron ore. We look forward to having a successful relationship with Anglo American.”
BAMIN is creating a new logistics integration and export corridor for mining and agribusiness in Brazil, investing R$ 20 billion in projects including the Pedra de Ferro mine in Caetité, Bahia, and the integrated logistics solutions. This includes constructing the Porto Sul Port in Ilhéus and the first stretch of the West-East Integration Railway (FIOL), which will link Caetité to Ilhéus, extending over 537 km. FIOL Stretch 1 and the Porto Sul Port are expected to be operational by 2026.