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Essar Group Acquires Mining Rights in Brazil
01/20/2009 - The Essar group acquires a mineral concession in Amapa, North Brazil, that could help the company support its proposed steel plant in Trinidad and Tobago in the South Caribbean.
The Essar group has acquired a mineral concession in Amapa, North Brazil, that could help the company to support its proposed steel plant in Trinidad and Tobago.
The group acknowledged that it would work to obtain a full-scale mining license based on results of the exploration. The survey is scheduled to take 6 to 8 months to complete.
As part of the concession, Essar is able to conduct exploratory mining for iron ore, manganese ore, chrome ore or any other available mineral. Essar has earmarked one of the larger deposits—an area of some 7,851.69 hectares—for exploration.
The government of Brazil’s Departmento Nacional de Producao Mineral (DNPM) granted Essar the mining concession in response to the company’s application. The area is 150 km from the Santana Public Port in Macapa, on the banks of the Amazon River, in close proximity to Essar’s proposed Trinidad and Tobago steel plant.
