Brazilian iron ore company SRN Mineração was awarded a provisional license from the Piaui state environment regulator. The company said it now expects to complete its iron ore project and commence operations within 8 to 12 months.
The iron ore project will cover the cities of Dirceu Arcoverde, São Raimundo Nonato and São Lourenço do Piauí, and should have a 300,000 mt/year capacity in a first phase. Then, the company expects to gradually increase capacity to 2 million mt/year. The project will produce a 64 percent Fe content iron ore.