Grupo Cosan, Brazilian energy and logistics group, planned to set up an iron ore mining and logistics joint venture JV Mineração with Grupo Paulo Brito, the founder and controller of mining firm Aura Minerals.

JV Mineração will own mining rights for three iron ore projects in the northern state of Para, Brazil. This mining JV was scheduled to start its production in 2025, with an annual production capacity of 10 million tons.

The JV will focus on producing advanced iron ore pellets and use renewable energy and natural gas as fuel so as to reduce carbon emissions.