The North Pier of Natal Port in Brazil was auctioned on Thursday, marking a significant event in the port's history. The lease was awarded for R$ 50 thousand, with plans for total investments of R$ 55.17 million over a period of 15 years. The bidding was conducted on the São Paulo Stock Exchange and reflects broader efforts to enhance infrastructure and economic development in the region.

The winning bid came from Fomento do Brasil Mineração, a subsidiary of the Indian conglomerate Fomento Resources, which is also involved in developing the Ferro Potiguar project in Tangará. The North Pier terminal, covering approximately 21,000 square meters, is specifically designed for managing solid mineral bulk, particularly iron ore, highlighting the strategic importance of the port for Brazil's mining sector.

This auction represents the first time a lease has been established for the North Pier of Natal Port, underscoring the potential for private investment in managing and upgrading the terminal's infrastructure. The move is expected to not only modernize port operations but also stimulate economic growth and job creation in Rio Grande do Norte, as the company takes on the responsibility for the terminal’s operations and future investments.