Mota-Engil and Eurasian Resources Group (ERG) are finalizing negotiations for the acquisition of Bahia Mineração (Bamin). Bamin controls iron ore assets and logistics infrastructure in Brazil.
The parties expect to conclude the agreement within the next two months. This timeline follows a delay from the initial target at the end of the first half of the year.
Negotiations are currently focused on the final review of contracts between the parties.
The Brazilian government recently approved significant financing for Bamin’s Porto Sul project. This funding signals official support for the infrastructure project's advancement once the deal closes.