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Brazil's Cedro secures BRL 3.9 billion for iron ore port terminal

9 May 2025 16:47 reported by Yolanda Wang

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Brazilian mining company Cedro Participações has secured a BRL 3.9 billion credit line from Brazil's Merchant Marine Fund to build an iron ore terminal at Itaguaí port near Rio de Janeiro. 

The 35-year lease for the ITG02 greenfield site will handle up to 25Mt/y of iron ore, connecting Minas Gerais' mining region via rail. Located near Vale and CSN facilities, the terminal aims to serve both Cedro's expanded production (targeting 22Mt/y by 2028) and smaller regional miners. 

The company is negotiating with potential partners, including commodity traders, while finalizing construction permits for a late-2025 start. The project strengthens Brazil's iron ore logistics alongside major mining operations.

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