Brazilian mining company Bamin announced that it has commenced iron ore output at its Pedra de Ferro mine. Bamin said it expects to produce 1 million mt of iron ore in 2021 out the mine, which has an iron ore capacity of 2 million mt/year.
A media report by Reuters said the company plans to invest BRL 4 billion over the next five years ($746.5 million) to expand iron ore capacity.
With the investment, the company expects to reach a capacity of 18 million mt/year. The company is producing 65 percent Fe content iron ore.