Owner of De Beers to buy iron ore from ERG
BAMIN, a subsidiary of Eurasian Resources Group and British mining company Anglo American have signed an agreement that guarantees the acquisition of the full export volumes of BAMIN’s Pedra de Ferro mine for 2023. As of today, the Pedro de Ferra mine produces about one million tons of high-quality iron ore a year.
«The signing of this contract builds on previous sales agreements between Anglo American and BAMIN for standalone exports and once again demonstrates BAMIN’s position as a high-quality supplier of iron ore. We look forward to having a successful relationship with Anglo American,» Benedikt Sobotka, CEO of Eurasian Resources Group said.
The Pedra de Ferro open pit iron ore mine, located in the city of Caetite, State of Bahia, has been in operation since late 2020, supplying both domestic and export markets with high-quality direct shipping ore.
BAMIN is creating a new logistics integration and export corridor for mining and agribusiness in Brazil, investing R$ 20 billion in projects including the Pedra de Ferro mine in Caetité, Bahia, and the integrated logistics solutions. This includes constructing the Porto Sul Port in Ilhéus and the first stretch of the West-East Integration Railway (FIOL), which will link Caetité to Ilhéus, extending over 537 km. FIOL Stretch 1 and the Porto Sul Port are expected to be operational by 2026.
ERG is an international diversified natural resources group with interests in 16 countries all over the world. Among the company’s stakeholders are the government of Kazakhstan (40%), Alexander Machkevitch (20.7%), the Ibragimov family (20.7%) and Patokh Сhodiyev (18.6%).
The group is a large producer of iron ore, aluminum, copper, cobalt and electricity. In Kazakhstan, the Eurasian Group manages the following production assets: TNC Kazchrome, the Sokolov-Sarbai Mining Production Association (SSGPO), Aluminium of Kazakhstan, Kazakhstan Aluminium Smelter (KAS), Eurasian Energy Corporation (EEC), Shubarkol Komir, Transcom LLP, 3-Energoortalyk and ERG Service.
ERG’s BAMIS runs the important Pedra de Ferro iron ore mining project, the deep water port of Porto Sul and part of the West-East Integration Railway (FIOL).
Anglo American is a British-listed multinational mining company established in South Africa. It is the world’s largest producer of platinum. The company controls an 85% share in De Beers, an international corporation that specializes in diamond mining.
