Brazilian Miner Seeks Development Bank Funds

Brasil Exploracao Mineral (Bemisa) is targeting development bank funding for a BRL3bn ($1.45bn) iron ore project, according to Sudene, a development agency for Brazil’s northeast. Sudene and the FDNE northeastern development fund would be among the lenders to the mine, located in the state of Piaui. A BRL5.4bn rail transport project, also getting Sudene support, would transport the project’s production.