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Aethel Mining

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Aethel Mining
Company typePrivate
IndustryMetals and Mining
Founded2015
HeadquartersLondon, United Kingdom
Torre de Moncorvo, Portugal
Key peopleRicardo Santos Silva
Aba Schubert
Websitewww.aethelmining.com

Aethel Mining is a British mining company headquartered in London and owned by Ricardo Santos Silva and Aba Schubert. Aethel Mining is the operator of the Torre de Moncorvo mines in Portugal, the largest private iron ore deposit in Europe.

Operations and production

The mine currently produces iron ore.

Proven reserves and production expansion

The Torre de Moncorvo mines have proven and probable reserves of 558 million tons, with an additional 254 million tons of possible reserves.

Economic impact

The reserves of the Moncorvo mines are currently valued at approximately 58.2 billion euros. This valuation corresponds to about one-third of the wealth in Portugal, highlighting the potential economic impact of the mine's development and operation on the local and national economies.

Rio Tinto negotiations

In 2011, Rio Tinto made an offer of over 1 billion euros for the Torre de Moncorvo mines. However, Rio Tinto later decided to withdraw from the project, opting to focus on a narrower range of mine developments, such as iron ore projects in Western Australia and Guinea, and the Oyu Tolgoi copper project in Mongolia.

See also

References

  1. "Governo confirma inglesa Aethel Mining ao leme das Minas de Moncorvo". Dinheiro Vivo (in European Portuguese). 2019-11-05. Retrieved 2023-04-26.
  2. Lusa, Agência. "Minas de ferro de Moncorvo entram em atividade após 37 anos ao abandono". Observador (in European Portuguese). Retrieved 2023-04-26.
  3. ^ Donn, Natasha (2022-07-05). "Torre de Moncorvo mines see business boom as result of Ukraine war". Portugal Resident. Retrieved 2023-04-26.
  4. "Reservas das minas de Moncorvo valem €58,2 mil milhões". Jornal Expresso (in European Portuguese). Retrieved 2023-04-26.
  5. "Portugal negoceia investimento mais de 1.000 ME Rio Tinto -Fontes". Reuters. 2011-10-21. Retrieved 2023-04-26.
  6. MarketWatch. "Rio Tinto may invest €1 billion in Portugual mines". MarketWatch. Retrieved 2023-04-26.
  7. "Rio Tinto to drop 1 billion euro Portugal project: sources". Reuters. 2012-07-11. Retrieved 2023-04-26.
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