Increasing iron ore prices might help Brazilian-based mining company Sanfe Fé Mineração commence iron ore output by Q1 2024, according to a media report by Valor.
The company might also benefit from two logistics alternatives that would ease the transportation of the product, the media report said. One of the alternatives is the Bamin-owned Fiol railway. Santa Fé could produce its iron ore at a cost of $27/mt.
The company plans to invest $100 million to build a plant that could produce up to 3 million mt/year of iron ore between the cities of Brumado and Lagoa Real in the south part of Bahia state, the media report said.