ENRC to Produce 45 Million Tons of Iron Ore in Brazil

Bloomberg reported that Eurasian Natural Resources Corp. (PINK:EURNY) is planning production of 45 million tons of iron ore in Brazil.

The market news is quoted as saying:

ENRC will invest about $3 billion at the site, helping it become the world’s fifth-largest iron ore producer, founder Alexander Machkevitch said today.

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