Brazil rail auction to boost ERG iron ore project

摘要

London—Bahia Mineracao (Bamin), a longstanding high-grade iron ore project being developed by Eurasian Resources Group in northeastern Brazil, is set to gain impetus from the forthcoming auction of the rail link essential for its development, sources close to ERG said. Brazil's Infrastructure Ministry confirmed Wednesday that it will announce details on March 12 of the auction of the first section of the FIOL (East-West Integration) railway, designed to link the greenfield mine site in Caetite to a port site at Porto Sul, Ilheus, Bahia state. The prospectus is to be published in the second quarter of this year and the auction is to take place in the third quarter, when the contract will be drawn up, the ministry said. ERG has already indicated it will bid to win the rail concession.