- Tombador Iron (TI1) has been granted a five-year operating licence for the Tombador Project in Brazil
- Mining production of high-grade hematite has now commenced at the mine site
- The company is working with trading partner Trafigura to schedule its first product shipments for the third quarter of this year
- Meanwhile, TI1 has appointed Stephen Quantrill as the company’s new Australia-based executive director
- Shares in Tombador Iron were trading at 9.8 cents at market close on May 20
Tombador Iron (TI1) has been granted a five-year operating licence for the Tombador Project in Brazil.
It follows the Environmental Agency of the State of Bahia publishing the Bahia Official Gazette on May 20.
Mining production of high-grade hematite has now commenced at the mine as ore is crushed and lump and fines products are stockpiled.
The company, together with trading partner Trafigura, is working to schedule its first product shipment in the third quarter of this year.
Tombador Iron CEO Gabriel Olivia commented on the progress.
“Thanks to the support of all stakeholders, we are very proud to have developed an operating mine in seven months from listing,” Gabriel said.
“We look forward to working with customers and establishing our brand as a high grade lump producer,” he added.
Meanwhile, as TI1 enters the operations phase, the company has appointed Stephen Quantrill as its new Australia-based executive director.
Stephen will work closely with the board, CEO and Tombador’s Brazilian and Australian teams to ensure a smooth transition to production and sale of iron ore in the global market.
Shares in Tombador Iron were trading at 9.8 cents at market close on May 20.