Dev Mineração, which is owned by Cadence Minerals and Indo Sino, made its second iron ore shipment this year, the company said. Dev Mineração shipped and sold Cadence’s second load of iron ore stockpiles from its Amapa state site in Brazil.
The company sold and shipped 48,670 mt of iron ore sinter fines of about 58 percent Fe content.
“Dev worked with Indo Sino Pty Ltd and Cadence to carry out a competitive bid process for the cargo. The buyer is one of the world’s largest globally diversified natural resource companies and a major producer and marketer of commodities,” Cadence said in a statement.
Dev should make a profit of about $10 million, Cadence said.