Brazilian iron ore producer Bahia Mineração (Bamin) plans to invest approximately $4.0 billion through 2026, increasing its mining capacity to 26 million mt per year, from previous plans to reach 18 million mt per year. Bamin is controlled by the Eurasian Resources Group (ERG), of Kazakhstan origin.
The company is considering participating in other iron ore mines in the state of Bahia to complete the volume after the expansion is concluded, while it plans to participate in the auction of a 485-mile railroad linking mines and the port in Ilheus, also in Bahia.
Quoted by the newspaper Valor Economico, the CEO of Bamin, Eduardo Ledsham, said that after 2026, there is enough demand for an additional 40 million mt of iron ore per year.