The Australian company RESA Group has signed a binding agreement to acquire the Tombador project in the state of Bahia, on its way to becoming a Brazilian producer of high-quality, low-impurity iron ore.
RESA, which plans to change its name to Tombador Iron, is targeting for 12 months after financing the initial production of DSO ore from 8Mt JORC compliant high grade hematite source containing 67.3 percent iron in a total of 10.1 mt combined resource.
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