Following the announcement made on
DEV shipped and sold the fourth batch of iron ore from stockpiles.
The loading of the 48,492 wet tonnes of iron ore sinter fines (approx. 58% Fe) at
Iron Ore 62% Fe, CFR China AT
Around 1.2 Mt of iron ore is currently stored in the 100% owned port by DEV
DEV shipped and sold the fourth batch of iron ore from Santana’s stockpile,
The first three shipments took place in the first half of last year and were approved through an Approved Court Petition. Details of the court-approved petition can be found. The court-approved motion limited sales of iron ore stockpiles to
Court-approved divestment funds were applied pursuant to the court-approved motion, with DEV retaining a portion of the net profits. These net profits and proceeds from the pending expedition will be paid to secured bank creditors in accordance with the settlement agreement announced on 12/29/2021.
Ownership and Joint Venture Agreement Details
Cadence holds 27% of the
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Certain statements contained in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of words and phrases such as “believe” “could” “should” “consider” “estimate” “intend” “may” “plan” “will” or the negative of such variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts, but rather on the directors’ current expectations and assumptions regarding the company’s future growth, results of operations, future capital and other expenditures (including the amount, the nature and sources of financing thereof), competitive advantages. prospects and opportunities. These forward-looking statements reflect the directors’ current beliefs and assumptions and are based on information currently available to the directors. Many factors could cause actual results to differ materially from those referred to in the forward-looking statements, including risks associated with vulnerability to general economic and business conditions, competition, environmental changes and other regulatory actions, actions taken by governmental authorities, availability of capital markets, dependence on key, uninsured personnel. and underinsured losses and other factors, many of which are beyond the Company’s control. Although all forward-looking statements contained in this announcement are based on what the directors consider to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with these forward-looking statements.
(C) 2022 electronic news edition, source