Brazil Minerals Inc. secured rights over a 4,120-acre iron project area in the Quadrilátero Ferrífero in Minas Gerais, Brazil, as iron ore prices continue to climb.

The company also said May 31 that it will evaluate technology solutions developed by a local private company aimed at reducing the environmental impact of an iron mine.

The solutions include processing without using water and assisting smaller-scale operations to improve product quality and profitability.

The local geology also shows potential for secondary deposits, Brazil Minerals said.

The company intends to soon initiate geological studies in the area focused on quantifying mineralization and reserve potential.

In late March, Brazil Minerals secured an exploration permit for its nickel-cobalt-copper project in Brazil's Goiás state comprising two mineral rights covering about 5,000 acres.