Brazilian logistics company VLI has signed a contract with local iron ore producer Bamin to transport iron ore from Bamin’s Caetite mine in Bahia state to the Port TUP Enseada do Paraguaçu, a media report by Reuters said.
Bamin is a Brazilian-based iron ore company owned by Eurasian Resources Group (ERG). VLI is a logistics company owned by Vale (29.6 percent), Brookfield Brasil Infrastructure (25.5 percent), Mitsui & Co (20 percent), among other companies.
Bamin said earlier this month that it would export 490,000 mt of iron ore by year-end, as reported by SteelOrbis; however, the company has not disclosed how it would do so. This week, VLI said it would transport the 490,000 mt of iron ore to Bamin by year-end.