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ERG, Chinese to build new iron ore mine

Diversified natural resources producer Eurasian Resources Group (ERG) has moved closer to starting iron ore exports from its Pedra de Ferro asset in Brazil by signing a memorandum of understanding with the state of Bahia and a consortium of Chinese companies to jointly develop the US$2.4 billion project.

ERG, Chinese to build new iron ore mine ERG, Chinese to build new iron ore mine ERG, Chinese to build new iron ore mine ERG, Chinese to build new iron ore mine ERG, Chinese to build new iron ore mine

ERG CEO Benedikt Sobotka (with the mine) is optimistic about the MoU with Chinese companies and the Bahia state

The project, which includes ERG’s Pedra de Ferro openpit mine in northeast Brazil, will produce 20 million tonnes per annum of iron ore.

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