ERG wins bid in Brazil to run rail line to boost operations at new mine

London —
The Pedra de Ferro iron ore mine in in northeastern Brazil's Bahia state, owned by Kazakhstan-based diversified miner Eurasian Resources Group, has won a bid to complete and operate a railway that will boost the development of the iron ore greenfield.
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BAMIN, as the mine is known, won the auction on the Bovespa (São Paulo Stock Exchange) to finish and run the first 537 km (334 miles) stretch of Brazil's FIOL, or East-West Integration, railway. The mine is ERG's first project in Brazil.
The bid follows the start of operations at the mine and the beginning of construction of Porto Sul port facilities in late 2020.

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