Porto Sudeste V.M. S.A. has announced that its controlling shareholder, Porto Sudeste do Brasil S.A., has finalized contract extensions and volume increases with two key clients, Empresa de Mineração Esperança S.A. (AVG Group) and Itaminas Comércio de Minérios S.A.

The contract with AVG Group now has a term of approximately 20 years, extended from the previous 10 years, with the annual volume doubling from 2 million to 4 million tons. The agreement with Itaminas was also extended to approximately 20 years, with the annual volume increasing from 4 million to 8 million tons. Both contracts also include higher minimum handling commitments, strengthening Porto Sudeste's port service operations for the long term.

The actual volumes will depend on the iron ore production of each mining company.