Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The Brazilian Ministry for Mines and Energy has granted Australian iron ore miner Tombador a mining concession to operate its Sento Sé in Bahía state, Brazil.


Iron ore production is expected to start before the end of the second quarter, Gabriel Oliva, chief executive, said in a statement on April 28 without disclosing the volume expected.


Tombador has not disclosed any production volume estimated, however, has already signed two contracts with key logistic providers to ship iron ore in Bahía state which will provide stockpile storage capacity, material handling, and ship loading services, sufficient for loading initial shipments of 35,000mt with the option to expand the port storage capacity.


Tombador is located near Sobradinho Lake and the town of Sento Sé, in Bahia state, Brazil. 


Tombador plant has an annual capacity of 3.3mn mt and the project has a mineral resource of 10mn mt with a 67pc Fe content in its hematite lump product. 


Brazil’s iron ore and concentrates shipments climbed by 34pc to 28.4mn mt in March, from 21.2mn mt exported in the same month the prior year. The average price of a tonne of iron ore increased to $126.6/mt in March, from $64.2/mt in the same month of the prior year, according to the latest figures from the country’s ministry of economy.

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