Australia-based miner Latin Resources has announced that it has acquired the Borborema iron ore project from Anglo-Australian mining giant Rio Tinto for $200,000. The iron ore project, located in Brazil, is close to the coast with infrastructure including rail, roads and port.
Latin Resources stated that the acquisition is in line with the company's strategy of identifying iron ore projects in South America if the opportunity arises and if the project is close to port infrastructure.
Source:
http://www.steelorbis.com/steel-news/latest-news/latin-resources-acquires-brazilian-iron-ore-project-from-rio-tinto-797685.htm
