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Brazil’s competition regulator approves Vetria lease of MMX Corumbá iron ore unit

Brazil’s competition regulator, Cade, has approved the lease of the mining rights to MMX’s Corumbá iron ore operations by local mining company Vetria Mineração.

November 18, 2014
By Generic people page

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The decision does not include any restrictions, Cade said in the country’s official gazette on Monday November 17.

In mid-2014, Vetria reached a deal to lease the Corumbá iron ore asset, in Brazil’s mid-western Mato Grosso do Sul state, for three years.

The leasing of these mining rights encompasses a 2 million-tpy iron ore processing plant, mining rights and concessions, and mine survey requisitions and permits covering an area of more than 100 million sq m.

The Corumbá iron ore plant was idled in July 2013 by owner MMX, and Vetria does not expect to resume production at the unit this year.