Isle of Man, UK-based iron ore producer Ferrous Resources Limited has announced that its wholly owned subsidiary Ferrous Resources do Brasil S/A was on March 30 officially awarded the environmental license for the development of Viga mine by the Minas Gerais state environmental regulator SUPRAM in Brazil.
The company said that the license is for a production rate of 15 million mt per year and an application will be made to expand it to cover the company's revised Stage 1 planned production rate of 25 million mt per year.
The company will try to move towards the award of the installation (construction) licence next.