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vendredi 9 avril 2021

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BAMIN wins bid to operate FIOL railway, a boost to ERG's iron ore project in Brazil

Eurasian Resources Group ("ERG" or "the Group"), a leading diversified natural resources group headquartered in Luxembourg, and its wholly-owned Brazilian subsidiary BAMIN, today announced that BAMIN has won the auction on the Bovespa (São Paulo Stock Exchange) to complete and operate the first 537 km stretch ("FIOL Stage 1") of the FIOL (East-West Integration) railway. FIOL will provide a high capacity and low cost link between ERG's Pedra de Ferro mine in Caetite and its Porto Sul port in Ilhéus, Bahia state. The bid follows the commencement of commercial operations at the Pedra de Ferro Mine with an initial capacity of 2 mtpa of high-grade iron ore, and the beginning of construction of Porto Sul in late 2020. Benedikt Sobotka, CEO of Eurasian...

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