Eldorado Gold Corp Ships First Iron Ore from Brazil

Eldorado Gold Corporation has shipped the first shipment of iron ore from its Vila Nova mine in Brazil. The Canadian company had bought its Australian rival Sino Gold last year.

The 45,000 tonnes of iron ore from the Vila Nova mine was sold in the Chinese spot market. 45,000 tonnes of lump ore grading approximately 63% Fe was shipped. Another 90,000 tonnes of iron ore shipments are planned in November. This will include 45,000 tonnes of sinter ore.

The company president Paul Wright said that Vila Nova was part of the company's strategy to expand its business in Brazil which they saw as an important component in the continued growth of Eldorado Gold.

The present shipments are a part of a trial mining plan for 2010. The plan was designed to test the ore quality, plant throughput and transportation logistics from Vila Nova. So far the Brazilian mine seems to be doing well for Eldorado.