The Portuguese engineering and construction group Mota‑Engil has advanced negotiations to acquire Brazilian mining and logistics company Bahia Mineração (Bamin) — the owner of iron ore assets, railway concessions and planned port infrastructure in the state of Bahia, Brazil.

The company has entered into a preliminary agreement to purchase Bamin from its controlling shareholder, Eurasian Resources Group (ERG), with the transaction currently undergoing due diligence. If completed, the deal will provide the European group with control of the Pedra de Ferro iron ore project in Bahia state, which is projected to have an annual production capacity of approximately 26 million tonnes. Bamin is tasked with constructing a stretch of the West–East Integration Railway (Fiol) and advancing the development of the Porto Sul port project. The railway forms part of a broader initiative to establish a transcontinental rail corridor linking the Atlantic and Pacific oceans. This logistics network integrates Fiol with the Ferrovia Centro-Oeste (Fico) and the Ferrovia Norte-Sul (FNS), creating connections between Brazil’s coastline and Peru’s Port of Chancay. Altogether, the projects overseen by Bamin are estimated to require roughly US$5 billion in additional investment to reach completion.

The financing arrangements are being structured solely by Mota-Engil in discussions with banks, without involvement from China Communications Construction Company (CCCC), the Portuguese group’s minority shareholder. If finalized, the transaction is expected to unlock the value of a mining asset situated in a region with strong development prospects. The project had previously attracted interest from a consortium comprising Brazilian mining companies Vale and Cedro Mineração, along with the national development bank BNDES.

Upon completion of the Bamin acquisition, Mota-Engil will emerge as a significant new entrant in Brazil’s mining industry. The European group already operates mining assets in Africa and intends to leverage this experience should the transaction be finalized. The deal would also reinforce the company’s footprint in Brazil’s infrastructure sector, particularly in project structuring and development. Most recently, Mota-Engil secured a 6.8bn-real (US$1.3 billion) public-private partnership (PPP) contract to build Brazil’s first immersed tunnel, connecting Santos and Guarujá.