Sul Americana de Metais (SAM), a subsidiary of China’s Honbridge Holdings, announced that it has received the basic approval for an iron ore project from the Brazilian mining agency ANM, for a mine located in the north of the southeastern state of Minas Gerais.
The project forecasts $2.1 billion in investments in the mining of low-grade ore, with average 20 percent iron contents, plus concentration, to reach 27.5 million mt per year of high-grade product.
Named Projeto Bloco Oito, the project will also include a waste dam based on the center line technology, which avoids the risks associated to the downstream technology, such as the Brumadinho and Mariana dams, which resulted in massive accidents over the last several years.