Asset Report
Esperança iron ore mine
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Esperança is a small surface mine owned and operated by Mineração Serra Azul located near the town of Brumadinho in Minas Gerais state, Brazil. The operation produces a 61%-Fe fines product which is typically sold at the mine gate. Esperança is situated in close proximity to Usiminas' iron ore operations and MMI's Serra Azul mine. In January 2020, Vale sold the Esperança and Santanense mines to Mineração Serra Azul for an undisclosed amount. Vale had acquired the mines in December 2018 as part of an agreement to buy Ferrous Resources. Esperança is currently processing run-of-mine (ROM) reserves from the Santanense mine, located 20 kilometres away. The ore undergoes a fairly rigorous beneficiation process because of its low-Fe grade and high levels of impurities, particularly silica. This ultimately gives rise to high processing costs.
Table of contents
- Summary
- Key issues
Tables and charts
This report includes the following images and tables:
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Detail MapParticipationMarketable reserves (at 01/01/2024)
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ProductionProductionOperationsInfrastructureCash cost (US$/tonne)Cash costCapital costs (US$ million)Product qualityEconomic assumptions
What's included
This report contains:
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