Brazil-based iron ore producer Itaminas has entered into a long-term export contract with the private port Porto Sudeste in Brazil, according to local media reports. Accordingly, Itaminas targets 4 million mt of iron ore exports through Porto Sudeste each year.
The contract has been signed for ten years, with the possibility of an extension later, and its first batch of exports is scheduled for May this year.
Itaminas has stated that the agreement will expand the company’s outflow capacity by cutting out the middleman, as the company had previously used other larger mining companies to sell its products. Itaminas CEO Thiago Toscano underlined that the company will have increased competitiveness in the global market and greater agility in exports.