Zamin proposes to buy the Amapá mine ( current production 4.8 m tons) , 70% owned by Anglo American and 30% by Cliffs Natural Resources. The deal is said to be around $300 million.
Zamin already has ongoing iron ore projects which include
- Susa mine, in Rio Grande do Norte
- Zamapa mine in the Amapá state)
- mine at Bahia
Pramod Agarwal, the company’s founder, based in London, is betting on iron-ore production of 27 million tons by 2017 in Brasil
Zamin has a iron ore project in Uruguay, which is undergoing the process of governmental regulatory evaluation for clearance.
In 2010 Zamin had sold a mine in Brasil at an attractive price.
Zamin plans to export 60% to 70% of the total to China and the rest to the Middle East.