Brazilian mining company Aviva Mining Mineracao is planning to set up an iron ore extraction plant in the country’s Tocantins state, according to local media reports.
The company’s initial investment would be BRL15mn ($2.6mn) to build the facility in the central part of the state near the city of Goianorte.
The company said that it will produce 300,000mt of iron ore per annum in the first stage of the project. The company is expected to begin the work related to the plant within the next 15 days.
Aviva recently also met Tocantins state Governor Mauro Carlesse to discuss the implementation of the project and to ensure employment to 300 locals from the region.