Brazil Minerals (OTC PINK: BMIX) announced that an independent technical report for the Iron Project in Minas Gerais estimates that the project area contains 7.4 million tonnes of iron ore for a deposit spanning up to a depth of 45 metres.\u00a0<\/p>\n
The 4,120-acre project is located in the \u201cQuadril\u00e1tero Ferr\u00edfero\u201d (Iron Quadrangle), in close proximity to one of Vale\u2019s (NYSE: VALE) first iron ore mines.<\/p>\n The Iron Project is located in the \u201cQuadril\u00e1tero Ferr\u00edfero,\u201d in the central-southern part of the Brazilian state Minas Gerais<\/p>\n<\/blockquote>\n<\/figure>\n According to Brazil Minerals, the local geology shows possible secondary deposits, for example, occurrences of eluvial\/colluvial iron mineralization with potential for lump ore production. <\/p>\n \u201cThis type of product is aimed at the domestic market and, in general, presents a combination of low production cost and relatively high margins, when compared with iron production for export,\u201d the miner said in a media statement. \u201cCurrently available data indicates the potential for an operation with annual net profits of up to $1 million and a mine life between 10 and 20 years.\u201d <\/p>\n At present, the company is optioning the project for an aggregate purchase price of approximately $1 million, payable in installments over two years.<\/p>\n \u201cAdditionally, Brazil Minerals has begun a collaborative effort with a university laboratory with expertise in iron concentration and separation processes. The company\u2019s intent is to quickly identify the most cost-effective route for processing for the specific iron mineral found in this project, a key step for operational planning purposes,\u201d the media brief states.<\/p>\n The California-based firm has said that by partnering with academics, it wants to find solutions for processing iron ore without water and enabling smaller-scale operations to increase profitability and product quality. <\/p>\n","protected":false},"excerpt":{"rendered":" A technical report estimates that the project area contains 7.4 million tonnes of iron ore.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196944"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1196944"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196944\/revisions"}],"predecessor-version":[{"id":1197059,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196944\/revisions\/1197059"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1196944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1196944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1196944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n