The investment arm of Abu Dhabi’s sovereign wealth fund, Mubadala Capital, is exploring the sale of a Brazilian iron ore port terminal operator.
The Rio de Janeiro-based port may be sold alongside the company’s iron ore mining project, Mineracao Morro do Ipe, located in Minas Gerais, according to Leonardo Yamamoto, executive director of Mubadala Capital Brazil, in a statement to Reuters.
Mubadala acquired a controlling stake in the Rio de Janeiro facility in 2014 from MMX Mineracao & Metalicos, in partnership with global trading giant Trafigura. Known as Porto Sudeste, this private terminal in Itaguai, Rio de Janeiro, is dedicated to loading solid bulk iron ore, with a capacity of up to 50 mln tons per year.
Porto Sudeste is jointly controlled by Mubadala and Trafigura, a major multinational player in oil, metals, and minerals trading, as noted on the Mubadala Capital website.
