Cedro Participações said in a statement that it has received a comprehensive environmental license (LAI) for the construction of the Porto do Mayo iron ore terminal in Itaguai, Rio de Janeiro State, with an estimated investment equivalent to 720 million dollars.
The terminal is expected to take three years to complete, with an area of about 250,000 m2 and an initial capacity of 15 million metric tons per year, with the possibility of expansion to 24 million tons in the next phase. It is expected that about 3,000 direct and indirect jobs will be created at the peak of construction.
The terminal, connected to the MRS Logística railway network, will allow Cedro to better control its exports and will also be able to serve other mining companies.
The project is part of the company's expansion strategy, which aims to produce 20 million tons of iron ore annually by 2032 and aims to increase its competitiveness in international markets.
Cedro will focus on producing raw ore for pellet production to supply pellet producers in Europe and the Middle East.
The name Porto do Mayo ("Middle Port") refers to the terminal located between the Vale and CSN terminals in Itaguai..
Obtaining environmental licenses in Brazil is not an easy task, given the strict laws of the country, so their approval is considered by many as an important milestone.
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