Asset Report
Serra Azul (MMI) 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
Serra Azul is a surface iron ore mine located in the Quadrilátero Ferrífero (QF) region of Minas Gerais state, Brazil. It is 100% owned by Mineração Morro do Ipê (MMI), a company jointly-owned by Trafigura, Mubadala and a group of investors. Serra Azul is comprised of two deposits: Ipê and Tico-Tico. Since 2017, the operation has produced a 65%-Fe concentrate product from stockpiled ore from the Ipê deposit. MMI is working towards revamping current facilities at Serra Azul, allowing the operation to produce up to 6 Mtpa of concentrate from the Tico-Tico deposit. Despite challenging legal and regulatory conditions in Minas Gerais post-Brumadinho, the Tico-Tico plant came online by 2023.
Table of contents
- Summary
-
Key issues
- Production
- Production
- Operations
- Cash cost (US$/tonne)
- Cash cost
- Capital costs (US$ million)
Tables and charts
This report includes the following images and tables:
-
Detail MapParticipationMarketable reserves (at 01/01/2024)
-
InfrastructureProduct qualityEconomic assumptions
What's included
This report contains:
Other reports you may be interested in
Asset Report
Serra Azul (ArcelorMittal) iron ore mine
Serra Azul is a mine owned by ArcelorMittal that supplies to the company's steel facilities and the seaborne export market.
$2,250
Asset Report
El Aouj iron ore mine
A feasibility study for Stage 1 of the 11 Mtpa El Aouj deposit was completed at the end of 2015; the mine will start operating in Q1 2027.
$2,250
Asset Report
Guelb el Rhein iron ore mine
Due to a high strip ratio and low raw ore grade, Guelb el Rhein has one of the highest mining costs in our dataset.
$2,250
