Brazil Iron MineraçÃo Ltda, the Brazilian arm of UK based Brazil Iron Ltd, unveiled plans to invest $5 billion in an iron ore project in the northeastern state of Bahia.
The consortium will focus its attention on harnessing the potential of the state’s Braemar iron region alongside its extensive renewable energy capacity.
The agreement represents a significant milestone for Arrow as it seeks to capitalise on the benefits of the Simandou multi-user railway infrastructure.