Brazil’s water transport authority Antaq has authorized the start-up of operations of the Sudeste Port, according to information made available in the Diario Oficial, the country’s official gazette.
According to the document, the port would operate partially, and is expected to have a 25 million mt/year iron ore capacity.
Earlier this year, Brazil flat steel and iron ore producer Usiminas said it could increase its share of iron ore exports through the Sudeste port.
The port is owned by MMX, Mubadala and Trafigura. MMX has a 35 percent stake in the project, while Mubadala and Trafigura own the other 65 percent.
The port is located in the city of Itaguai, in the state of Rio de Janeiro, and should have a capacity to transport up to 100 million mt of iron ore when fully completed.