Valentines Mining Project Awaits Uruguayan Government's Authorization

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Researched by Industrial Info Research Latin America (Córdoba, Argentina)--Anglo-Swiss company Zamin Ferrous and Uruguayan subsidiary Minera Aratiri are at work on the Valentines Project, which is located in the Treinta y Tres department of Uruguay. Valuated at $1.5 billion, the project includes an 18 million-ton-per-year iron mine and a deepwater port in the Rocha department that will transport produced iron ore. This project is being developed to become the largest iron mine project in Uruguay and to position the country as the eighth-largest iron producer worldwide.

At the moment, Minera Aratirí is awaiting the government's authorization to continue with the Valentines Project following some changes in policy, including modifications to the tax system and mining regulations. National authorities have been supportive of developments like the Valentines Project and are confident that the company will be able to perform the work. Uruguayan President José Mujica reaffirmed his commitment with Minera Aratirí, noting the significant benefits that the project's development will bring to the country. The national government and the mining companies are in talks to decide on the next steps.

Minera Aratirí has completed feasibility studies for Valentines, and as soon as the national government grants approval, Aratirí will release bid documents and continue with the project. Iron ore production and exportation are scheduled to begin in 2015.

Zamin Ferrous has mining projects in Asia and South America. Minera Aratirí is developing the iron ore project as part of the group's strategy to become an important global iron producer.

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