INEA, the environmental regulatory agency in Brazil's Rio de Janeiro state, have granted the Sudeste iron ore port a permit to begin operations, the operator said Monday.
"The terminal is in the final stages of construction with about 3,800 workers on site," the company said in a statement, adding that operations are expected to begin in the fourth quarter at an initial annual loading capacity of 50 million mt.
The Sudeste port will be able to berth Panamax, Capesizes and Wozmax vessels.
Trafigura, a Dutch trading company, and Abu Dhabi's sovereign fund, Mubadala Development, in February acquired a 65% stake in the port from MMX.
Iron ore market sources say the port will provide an important outlet for Brazil's mid-sized producers.
Source: Platts
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