Vale has confirmed the acquisition of a 30% minority interest in Ligga S.A. for approximately $190 million. The deal includes an exclusive offtake agreement for 100% of Ligga's sinter feed production and is intended to support an expansion of the Ferro Sul mine in Brazil.
Vale has confirmed the acquisition of a 30% interest in Ligga for approximately $190 million, which includes an exclusive offtake agreement for all of Ligga's sinter feed production. The transaction is intended to support an expansion that would increase Ligga's annual output from 2 million to 8 million tonnes by mid-2028.
Max Resource reports successful preliminary dry magnetic test work at the Florália Hematite DSO Project in Brazil, yielding iron grades up to 69.5% Fe and recoveries up to 81%. The company also announced a successful AUD $2.73 million private placement for its subsidiary, Max Brazil, to support an upcoming ASX listing.
Max Resource reports high-grade iron assays from channel samples at its Florália Hematite DSO Project in Minas Gerais, Brazil, with 131 samples returning 50-61% Fe and a highlight of 64.7% Fe. Preliminary dry magnetic tests successfully increased Fe values by 4-6%. The company also announced a significant increase in the Florália geological target from 8-12Mt to 50-70Mt at 55-61% Fe, though this remains conceptual. Furthermore, Max Brazil Iron Ltd. closed a AUD $2.73 million private placement and is progressing towards an ASX IPO to raise up to AUD $10 million. The release also includes high-grade copper and silver channel assay results from the Sierra Azul Project in Colombia, with Freeport-McMoRan funding a US $4.8 million exploration budget for 2025.
