Brazilian miner DEV Mineração will invest BRL 1.7 billion ($326.44 million) to resume operations at its Amapá iron ore project, according to media reports. The mine had stopped operations seven years ago.
Requests to reactivate the environmental licenses for the mine were submitted to the Amapá Environment Secretariat and the licenses are expected to be issued in the coming months. The company plans to reactivate the old Icomi Port and the Amapá Railway, in addition to the mining operations. The miner anticipates to annually produce around six million mt of iron ore from the project over a period of 16 years.
In addition, the resumption of the mine’s operations is expected to create approximately a total of 3,300 jobs.