Brazilian steelmaker Gerdau SA (NYSE:GGB) said Thursday it will spend $5.8 billion through 2020 to expand its iron ore processing capacity to 24 million metric tonnes a year, Platts reported.
Articles Tagged "brazil"
Rio Tinto (LSE:RIO,NYSE:RIO,ASX:RIO) has sold its Borborema iron ore project in Brazil to Australian company Latin Resources (ASX:LRS), MINING.com reported.
London South East reports that Anglo American (LSE:AAL) has completed the sale of its Amapa iron ore operation in Brazil to Zamin Ferrous Limited.
The world's second-largest iron ore producer is ramping up production and lowering its costs, which could threaten smaller producers of the steelmaking commodity.
Anglo American (LSE:AAL), through its subsidiary Anglo Ferrous Minas-Rio Mineracao SA, said it has started constructing its Minas-Rio iron ore mine in Brazil.
Steel Guru reports that Centaurus Metals (ASX:CTM) has delivered higher grade iron ore results from its latest drilling program at its Candonga Iron Ore Project in Brazil.
Cleveland Mining Company Ltd. (ASX:CDG) has earned rights to acquire 80 percent of three iron ore exploration projects in Brazil. The ASX-listed company signed an MOU with BC Iron Ltd. (ASX:BCI) for acquiring the properties in the Brazilian states of Salvador de Bahia and Mina Gerais, through staged earn-ins.
Bloomberg reported that Glencore International Plc has purchased a stake in Brazil iron ore miner, Ferrous Resources Ltd., to bolster its position in the market for iron ore.
Reuters reported that Anglo American plc (LSE:AAL) is considering partnering up with another company to run its flagship Minas Rio iron ore project, which is located in Brazil. The project is currently struggling after being hit with delays and cost overruns.
Bloomberg reported that the world’s largest iron-ore producer, Vale SA, is losing its lead to Rio Tinto, after production slid 0.8% due to aging mines and licensing delays.