Cleveland Mining acquires Brazilian iron ore project

Australian minerals company Cleveland Mining Company Ltd. announced that it havertical raw mill cement industrys acquired a 1,000km2 iron ore project in the northern Brazilian state of Amapá. The announcement comes within weeks of the company securing a high-potential gold project in Chile and delivering a foundation resource for the Premier Gold Project in Brazil.

The greenfields Porto Grande project is bounded by iron ore projects held by Anglo American and Cliffs Natural Resources, Brazilian mega-miners Mineração e Metalicos S.A (MMX) and Vale, and is located between ASX-listed Beadell Resources Ltd’s Tucano and Tartaruga projects. Cleveland has limited geological information about the tenements; although, outcropping hematite and itabirite mineralisation has been identified within the tenements during preliminary geological investigation. Cleveland sait it will immediately commence geological reconnaissance to better understand the scope and characteristics of the mineralisation.

Cleveland Mining Managing Director, David Mendelawitz, said that the northern Brazilian state of Amapá is emerging as the world’s newest address for high-quality iron ore. “I have personally assessed iron ore projects globally for most of the past decade and am now encouraged that we may have found a location that fits the structural and economic requirements of an emerging iron ore company. Amapá is coastal, pro-mining, subject to sound legislation and taxation, and is politically stable, whilst having good infrastructure and access to low cost, yet skilled labour – all in association with high-grade iron ore,” said Mr Mendelawitz.

Cleveland said it’s management team has solid experience in iron ore exploration and production, its CEO Mr Mendelawitz and Non-Executive Director Mr Williams holding senior management positions with Fortescue Metals Group Ltd. from grass-roots exploration through to project construction, start up, and into full scale production. The vendor of the Porto Grande project will join the company to drive an established team.

"The team has experience conducting exploration programs in the area and the vendor has personally supervised the construction of four iron ore mills in Brazil. This team will form the basis of an entirely discrete Iron Ore Division, comprised of people not associated with Cleveland’s gold and copper projects, with the exception of the Board of Directors," the company said.