Chamber Supports One Of The Largest Iron Ore Projects In Brazil

The Brazilian American Chamber of Commerce supports the developing of one of the largest iron ore reserves in Brazil

FOR IMMEDIATE RELEASE -

Jun 24, 2010 – In a statement on Tuesday, the Brazil-Tampa Bay Chamber of Commerce president Mr. Jefferson Michaelis said that according to preliminary data the deposits contains over 3,000,000,000 tons of iron ore; therefore the "Jatapu" project in Amazon could be considered one of the largest iron ore reserves to be developed in Brazil since the 1950's.

The deposits are located in an area of 180,000 hectares, broken down into 18 (eighteen) areas. This section of the Amazon River allows transportation by ships of cargo up to 65,000 metric tons. The development of the deposit will require building 130 kilometers of railroad, or a pipeline to the port. Athena Holdings through our extensive support has developed relations in Manaus, as well as with ANTAQ, which is the federal port authority, and has all possible support in building a port terminal as well.

A major hydro electric plant is located 120 kilometers from the deposit and 150 kilometers from Manaus. Therefore, there is a possibility of building a smelter producing pellets near Manaus and exporting pellets, not iron ore.

"We have a clear strategy to build a quality international mining operation over the next five years, and this will take shape in the coming months with an aggressive plan to bring potential strategic investors to join us in Brazil," said Mr. Alexander Kollontai, Athena Holdings' CEO in New York.

Kollontai aims to sell thirty-million tons of iron-ore per year, grading from 47- 60% iron, by the end of 2014.

Iron ore demand is rebounding after the financial crisis and sales are expected to expand next year, the Chamber of Commerce President said during the announcement.

About BTCC

The Brazil-Tampa Bay Chamber of Commerce, Inc. is a bilateral, not-for-profit business organization. The Chamber has emerged as one of the most dynamic bilateral business catalysts in the nation in recent years. The organization aims to promote trade and investment flows between Brazil and the United States and to forge closer ties between the business communities of both nations.
Contact: info@braziltampa.org