Report summaryFerrous Resources was formed in February 2007, focused at the time on the acquisition of under-capitalised and under-exploited iron ore resources in the Quadrilátero Ferrífero (QF) region of Minas Gerais state in Brazil. Though the initial aim of the company was to acquire and consolidate a number of privately-owned iron ore properties and mines, the focus later shifted more towards the development of its own assets. Ore from Viga undergoes a fairly rigorous beneficiation process because of the low raw ore grade and high level of impurities, particularly silica, found in the raw ore. This ultimately gives rise to a comparatively high processing cost.
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