Brazil’s Cosan announces expansion into mining, joint venture with Aura Minerals

The group founded by Rubens Ometto has offered R$720 (US$134) million for a port terminal in São Luís and announced a joint venture to explore iron ore.

RIO DE JANEIRO, BRAZIL - Cosan (CSAN3) on Monday, August 23, advised the market that it is entering the mining sector. The move includes the presentation of a binding proposal for the acquisition of 100% of TUP São Luís, a port terminal for private use in the capital city of Maranhão for R$720 (US$134) million, in addition to the formation of a joint venture with Aura Minerals (AURA33) in iron ore.

It will be Cosan's fifth vertical business expansion: it currently operates Raízen (RAIZ4, a joint venture with Shell in the sugar and ethanol . . .

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