Significant potential. Railways being built close to projects.
Cleveland has earn-in Option Agreements for three iron ore projects in the eastern Brazilian states of Salvador da Bahia and Minas Gerais.
The Company believes the combined projects areas have the potential to host significant potential of itabirite iron ore type, which is typical of Brazil and highly sought after by the international steel industry.The projects are all close to rail infrastructure that is either under construction (Bahia) or proposed (Minas), and will connect to open access ports. The proximity to the infrastructure also reduces the minimum sized deposit required to justify the mine.
- Large tenement holding in emerging iron ore provinces
- Total of 1,264 km2 of granted exploration concessions is held in Bahia (194 km2) and northern Minas Gerais (1,070 km2)
- Strong government support
- Multi-kilometres outcropping strike extent identified so far
- Significant Iron Ore intersected in drilling over 6 prospects
- Circa 100 million tonne potential
- High grade concentrate produced at coarse grind size
- Open access rail under construction
Minas Gerais tenements
- 6 adjacent anomalies
- orientation drilling completed
- +1 billion tonne potential
- New Open Access Rail Planned
The Company is contemplating utilising the iron ore resources to support a pig iron manufacturing process plant. Desk top studies demonstrate a compelling economic case for development of an integrated mine, sinter plant and pig iron plant. The plants are common in Brazil and represent a low capex, high revenue business case.