Cedro Participações Secures Approval for the Issuance of the Environmental License for Porto do Meio in Itaguaí, Rio de Janeiro

Iron ore terminal with an estimated investment of R$ 3.6 billion is expected to generate up to 3,000 jobs at the peak of construction.

BELO HORIZONTE, Brazil, Oct. 16, 2026 /PRNewswire/ -- Cedro Participações received approval on Tuesday (October 13) from the State Environmental Control Commission (CECA) for the issuance of the Integrated Environmental License (LAI) for the development of Porto do Meio, an iron ore terminal that the company will build at the Port of Itaguaí, in the Greater Rio de Janeiro metropolitan area.

The decision represents the project's most significant milestone to date. With the successful completion of the environmental licensing process—a widely recognized rigorous and decisive stage for port and infrastructure projects in Brazil—Cedro has obtained confirmation of the terminal's environmental feasibility and fulfilled the necessary conditions to advance to the next phases of the project. This achievement reinforces the company's commitment to developing projects that comply with the most stringent environmental and regulatory standards.

In this initial phase, the license covers the handling of a volume of less than 15 million tonnes per year.

In December 2024, Cedro won the federal auction for the area identified as ITG02 and signed a lease agreement for a 35-year term, renewable for an additional equal period.

"Porto do Meio is not just a project for the next three or five years, but a strategic transformation vector for the coming decades that will significantly increase the competitiveness of the mineral industry in Brazil," states Lucas Kallas, Chairman of Cedro International, part of Cedro Participações.

"This project reflects our vision for the coming years in Brazil's port and mining sectors. We have targets to expand our iron ore production, and the terminal is essential to our growth plan through the beginning of the next decade, giving Cedro independence in iron ore exports," adds José Carlos Martins, Chairman of the Board of Directors of Cedro Participações.

Located between Vale's and CSN's terminals in Itaguaí—a position that inspired its name—Porto do Meio will occupy an area of approximately 250,000 square meters, including a stockyard and a berthing facility for vessels requiring water depths of up to 20 meters. The terminal will be connected to the MRS Logística rail network, which links the Iron Quadrangle in Minas Gerais to the coast of Rio de Janeiro state, creating a new corridor for iron ore transportation.

The construction works are expected to take three years and will include civil engineering, dredging, the supply and installation of port equipment, and electromechanical assembly. At the peak of construction, the project is expected to generate approximately 3,000 direct and indirect jobs. Once operational, the terminal will directly employ 256 people and is estimated to generate R$ 1.2 billion in municipal tax revenue.

Designed to accommodate Cedro's production, the terminal will also be open to third parties. As a result, mid-sized mining companies that currently rely on terminals operated by large groups or trading companies to export through Itaguaí will gain direct access to international markets. This means fewer intermediaries, long-term contracts, and greater predictability, as well as competitive logistics costs thanks to the terminal's proximity to the Iron Quadrangle and its rail connections.

About Cedro

Founded in 2018, Cedro Participações is a Brazilian holding company headquartered in Minas Gerais, with operations in iron ore mining, logistics infrastructure, and agribusiness. The company is implementing an investment plan aimed at reaching an annual production capacity of 20 million tonnes of iron ore by 2032, with a focus on high-grade pellet feed.

SOURCE Cedro Participações