Brazilian anti-trust authority, Cade, has approved Mineração Serra Azul (MSA) to acquire to iron ore mines owned by Vale, according to a document obtained by SteelOrbis. The anti-trust authority document did not disclose the transaction value.
MSA will buy a 100 percent stake at Empresa Mineração Esperança (Emesa) and another controlling stake at a company yet to be created, which includes Vale’s Santanense iron ore mine. Both mines are located in the state of Minas Gerais.
The Emesa mine reportedly no longer has iron ore reserves, however, it has a sinter feed processing facility supplied by iron ore coming from the Santanense mine, which is expected to empty its iron ore reserves.