Chinese mining company Sul Americana de Metais (SAM), a unit of China’s Honbridge Holdings, is confident it will receive the necessary permits to start up its US$ 2.1 billion iron ore project in Minas Gerais, its chief executive said.
The Brazilian state of Minas Gerais has signed a protocol of intent with Sul Americana de Metais, a unit of Chinese miner Honbridge Holdings, for the construction of a 9.1 billion reais (US$ 2.2 billion) mining complex, newspaper O Estado de Sao Paulo reported.