Le Lézard
Classified in: Mining industry, Business
Subjects: TNM, ACC

Ęthel Mining Ltd. Announces its Purchase of MTI - Ferro de Moncorvo, S.A.

LISBON, Feb. 5, 2020 /PRNewswire/ -- Ęthel Mining is part of Ęthel Group, a global enterprise with businesses in alternative asset management and financial services, natural resources and technology.  

MTI holds the concession for Europe's second largest iron ore deposit, located in Torre de Moncorvo, Portugal.

Ricardo Santos Silva, co-founder of Ęthel Group says, "This is an important project for the country, for the local economy and for our group.  But the main thing is the elephant in the room:  mining and climate change. Ęthel Mining is committed to minimise operational impacts to climate change and to this end will conduct an assessment of the Moncorvo operations through the use of computational tools to provide indicators including global warming potential and primary energy demand.  This is pioneering work and in the near future, we plan to turn data into intelligence where the processes will be optimised taking into account both external and internal factors."  

Aba Schubert, co-founder of Ęthel Group says, "Iron is the world's most commonly used metal, representing 95% of all metal used each year.  The main economic constraint for iron ore deposits is the cost of infrastructure. But we already have the railway from Pocinho, the Douro River, the Port of Leixoes and the Port of Sines, all of which are fantastically located at the door of Europe.  The reopening of the mine will also attract other industries to the local region, creating a virtuous economic cycle." 

The mine is initially producing high density aggregate and later will produce iron concentrates. The mine's high density aggregate output is a valuable material for construction and landworks.

Ęthel Mining is committed to using technology to achieve its commercial and sustainability goals.  To support this, the mine will adopt the Dorae system to drive its operations.  Dorae is a leading technology system serving the global trade and logistics sector.   

For any inquiries please contact media@aethelpartners.com, Tel: +44-203-709-7786 


SOURCE Aethel Mining

These press releases may also interest you

at 09:05
Trevali Mining Corporation ("Trevali" or the "Company") announced today that it has issued its 2019 Sustainability Report, covering new performance targets and disclosures. "Our second annual Sustainability Report marks another great milestone...

at 08:50
A new report released by The Conference Board of Canada indicates that nearly one in five Canadian employees are in occupations at high risk of automation with few or on no options to transition into lower-risk occupations without significant...

at 08:45
The silver price is gaining traction, bringing the gold-silver price ratio down from historical highs and creating a ton of buzz around the silver market. It seems that silver is starting to catch up with rising gold prices and analysts expect the...

at 08:40
Zephyr Minerals Ltd. ("Zephyr" or the "Corporation") is pleased to announce that at the annual and special meeting of the Corporation's shareholders held on May 27, 2019, the shareholders re-elected Will Felderhof, Loren Komperdo, John Clark, David...

at 08:38
Cincom Systems, Inc., a global supplier of enterprise software solutions and a Microsoft Dynamics partner, announces that as part of a push to work more closely with communities that make up the tech industry, Claire Oancea, Cincom Channel Manager,...

at 08:35
Discovery Metals Corp. ("Discovery" or the "Company") is pleased to announce its operating and financial results for the three months ended March 31, 2020. All amounts are presented in Canadian dollars ("CAD") unless otherwise stated. Our Company...

News published on 5 february 2020 at 11:36 and distributed by: