China is set to receive the first iron ore exported from Portugal´s Moncorvo mine, according to the concessionaire, Æthel Mining.
Æthel´s president, Ricardo Santos Silva, said the first 50 thousand tons of high density iron aggregate, the first order that the company received after the reactivation of the Torre de Moncorvo mining project, in the Northeast of Portugal, will be exported to China.
“The deals we are doing with China are very attractive, since the price of iron is historically high, around 170 dollars per ton”, the president of Æthel Mining told portuguese press.
“Exporting to these countries is only dependent on our logistics capacity and we would like to produce two million tons of high-density iron aggregate. However, we are dependent on the transport capacity of the product”, Santos Silva added.
For now, the cargo will be transported to the Port of Leixões, in the city of Porto, by truck, and then by sea to China.
“In future orders and within half a year, we foresee that transportation to Leixões will also be done by rail and river using the Douro railway line and the Douro Waterway”, Santos Silva added.
