Gerdau, a Brazilian steel producer, has announced a significant investment of R$3.2 billion ($665 million) to enhance iron ore production at its Miguel Burnier mine.
The goal is to increase annual production from 1.2 million tons to 5.5 million tons by the end of 2025. The mine, situated in Ouro Preto, Minas Gerais, will receive investments between 2023 and 2026. These investments will encompass state-of-the-art equipment and processes, regarded as the most advanced in the mining industry.
Notably, the mine will adopt dry storage for mining waste to eliminate the need for waste dams. Additionally, efficient transportation systems will be established to carry the ore from the mine to the Ouro Branco steel mill.
The company emphasizes that all iron ore extracted from the Miguel Burnier mine will be exclusively used to supply its steel plants in Ouro Branco, Barau de Cocaes, Divinopolis, and Seto Lagoas states. Gerdau anticipates that the increased iron ore production will facilitate future expansion of steel production in Minas Gerais state.
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