SAFM has received their Definitive Operating License from COPAM allowing the company to begin mining at their Ponte Verde Iron Ore Project in Brazil. Production is scheduled to commence December 2010 at the refurbished operating plant. Currently the plant’s capacity is 1 million tns/yr. The company intends to explore and conduct engineering studies to determine ways to increase production to 3 million tns/yr at +60%Fe. Initial product will be sold to domestic steel mills and large producers. The project area is located in the centre of Brazil’s major iron ore mining area, adjacent to existing infrastructure and established mining operations.