Australia-based Cabral Resources Limited has announced that it has identified and secured the iron ore tenements for 100 percent of the Sincorá Area in Brazil's northeastern Bahia state, which has significant potential for high grade direct shipping hematite iron ore.
According to Cabral's statement, the Sincorá Area is closely located to critical infrastructure, with the existing and operating rail line passing through the Sincorá Area and a new rail line scheduled to be located just 30 km away.
The acquisition perfectly matches Cabral's exploration focus towards low capital intensive high grade direct shipping hematite ore bodies, complementing the company's existing iron ore portfolio and asset base in the region. Cabral also remains focused on becoming a significant iron ore producer by 2015-16.
