RE: Newsletter5 Dec 2025 07:11
From Grok
DEV Mineração S.A. owns the Amapá Railway (also known as Estrada de Ferro do Amapá), which runs approximately 194 km from the Azteca iron ore mine near Serra do Navio to the Santana port in Amapá, Brazil. This is a fully integrated operation for iron ore transport, with DEV holding a life-of-mine concession granted by the State of Amapá in 2019 (extended to 2046) for exclusive use by its subsidiary.
DEV was previously majority-owned by Anglo American (51%) and Cliffs Natural Resources (49%) until 2015, then by MMX Mineração until 2019, when Cadence Minerals and Indo Sino Trade acquired control through judicial restructuring. Cadence holds a 35-36% stake in the project via the Pedra Branca Alliance joint venture (with an option to increase to 49%), while Indo Sino holds the majority. The State of Amapá owns the physical railway infrastructure and land, but DEV controls operations.
The railway, originally built in 1954 for manganese by Bethlehem Steel, now supports iron ore from the Amapá project, which is ramping up production as of 2025.