Australian miner Cleveland Mining has announced that, together with its iron ore alliance partner Australia-based BC Iron, it is able to produce high grade iron ore concentrate from its Caetite project in the Brazilian state of Bahia after completing the first drilling program.
"With concentrates in the high 60s to low 70 percent Fe, the Caetite project may find a niche market allowing steel mills to blend with more readily available lower grade material. Such a product would be expected to be in high demand and sell for a premium price," said Cleveland's managing director David Mendelawitz.
The Cleveland-BC Iron alliance has confirmed with the Bahia state government that the open access East-West railway which is currently being built to pass within 25 km of Caetite is expected to be completed in 2016. The railway is designed for transporting bulk materials to a planned cape size port. The alliance is currently undertaking a study to determine if near-term production and mine-gate sales are possible.
