October 07, 2008

Bahia based iron ore miner to supply iron ore to China

It is reported that China Iron and Steel Association has welcomed a new Brazilian iron ore company's decision export over 10 million tonnes of high grade iron ore annually to China.

The company made this decision at an iron ore mine project introduction conference held in Shanghai, which attracted CISA and representatives from major domestic steelmakers. Local government in Bahia promised to give preferential policies to the project, including the exemption of the 17% tariff on equipments imports.

The company owns mining right of 56 mines in East Brazil's Bahia, covering total area of more than 100,000 hectares. Average grade of the iron ore resources is estimated at 57.8%. The project is to be launched soon.

(Sourced from MySteel.net)