Samarco Reaches Production of 4.4 Million Tonnes of Iron Ore
In July, seven months after the resumption of production, in December 2020, Samarco reached the volume of 4.4 million tons of iron ore and pellets produced to supply the domestic and foreign markets. Over the past few months, the company loaded 47 ships bound for various countries. In this context, in order to preserve its operations, Samarco started in April the judicial reorganization process, accepted by the Minas Gerais Court. The judicial reorganization protects the company against actions of creditors in the international financial market.
The company obtained the approval of the Minas Gerais Court to obtain financing in the amount of USD 225 million, through a mechanism known as DIP Financing – specific for companies in a situation of judicial reorganization. The authorization for the loan was given by the 2nd Business Court of Belo Horizonte, which recognized the company's need for funds that guarantee the sustainability of its operations throughout the judicial reorganization process.
Currently, with 26% of its production capacity, the company employs more than 6,000 people, directly and indirectly, in the states of Minas Gerais and Espírito Santo, in addition to working with 1,533 suppliers.