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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. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now 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. ....
Brazil’s Bahia Mineracao to operate Fiol railway Segment of the East-West Integration Railway (Fiol) Credit: Bamin. Brazilian miner Bahia Mineracao (Bamin), a subsidiary of Kazakhstan’s Eurasian Resources Group, will operate the stretch of the West-East Integration Railway (Fiol 1), which goes from Ilhéus to Caetité, in Bahia state, Brazil. In an auction without competitors, Bamin offered R$32 million ($5.8 million) and will be responsible for the completion of the project and for the operation of the stretch, in a concession that will last 35 years, totaling R$3.3 billion ($590 million) in investments. Sign Up for the Iron Ore Digest Sign Up ....