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About us



The Company


Aethel Mining is a private multinational technology-based mining company.  Aethel Mining operates the iron ore concession in Torre de Moncorvo, Portugal.  This asset is the second largest iron deposit in Europe and Aethel Mining’s most important resource.


Our strategy is to create value for all our stakeholders.  Community, innovation and sustainability drive our value creation. 


Aethel Mining Portugal, SA (previously MTI – Ferro de Moncorvo, S.A.) began its exploration activity in Portugal in 2005, and its operations in Moncorvo commenced in 2020.

Moncorvo's iron deposits have been the subject of primitive exploitation since the Iron Age, with industrialised mining activity beginning in the 1790s.  From 1957, consolidated operations began to be managed by the Thyssen group, under the banner of Minacorvo, Lda.  Following the Portuguese revolution in 1974,  Minacorvo was dissolved and its concessions were integrated into Ferrominas SARL and later Ferrominas EP.  


Aethel Mining has three core values that drive its value creation:  Community, Innovation and Sustainability.


At Aethel Mining, we know that each project is only as strong as the community where it operates.  We must grow together, learn together and care together. 


Through community engagement, we understand the priorities and strengths of the regions where we invest and operate.  By working together with local government, employees and other members of the community, we build the foundations for long term success.



The heart of our business is technology.  Through adoption of industry best practices and our own in-house innovation efforts, Aethel Mining is leading the way into next generation of natural resources stewardship.


Aethel Mining’s commitment to sustainability grows from its other two core values:  being part of a community means caring about the future, and leading innovation means having the tools to build a better future.  Aethel Mining is committed to environmental conservation, reducing waste through operational efficiency and minimizing our carbon footprint through world-leading logistics practices.



Aethel Mining is the most innovative mining business in the world.   Using technology in all aspects of its strategy and operations, Aethel Mining is leading the way in data-driven resource management and tech-enabled efficiency.


Aethel Mining uses Dorae, the physical trade cloud system, to manage its production schedule, supply chain, inventory, documentation, logistics and counterparties.


By embracing innovation, in everything from forestry management to machine learning, Aethel Mining achieves its commercial goals while supporting its community and building a sustainable future.

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Forest Trees



The iron ore deposit in Moncorvo is the second largest iron resource  in Europe and is Aethel Mining’s most important asset.


In the Moncorvo iron concession, 558 million tons of proven and probable reserves and 254 million tons of possible reserves have been identified. 


Aethel Mining’s concession is located in the Douro basin between Torre de Moncorvo and Carviçais, in Serra do Reboredo and Cabeço da Mua. 




Iron Ore is the raw material used to make steel and constitutes the world’s second largest commodity bloc by value, after crude oil.

Our medium grade iron ore has low sulphur dioxides and an average content of 65%-70% of iron oxide (hematite).

We use next-generation technologies including artificial intelligence, automation and machine learning in our operations to get the best results for our customers and the environment.

*Analysis relates to samples in dry state.
Iron Ore


MuaDense is a heavy weight hematite aggregate and is commonly used both offshore and onshore in civil engineering projects that require high density concrete / ballast.

This high density concrete is 60% heavier than normal concrete allowing substantial cost savings: less excavation, rebar and concrete as well as reducing complexity and time.




Main Benefits of Using MuaDense:​

  • Reduced costs

  • Sustainability

  • Reduced construction time

  • Performance





Typical applications:

  • Hospitals and laboratories: radiation shielding with thinner wall

  • Nuclear facilities: radiation protection and encapsulation of waste material

  • Offshore: heavy weight negative buoyancy coatings, coastal defense, underwater concrete and protection and foundations

  • Civil engineering: ground stabilization (overcoming hydrostatic pressure) and tunneling (dampening sound and vibration)

  • Loose ballastoffshore wind (foundation stabilisation), heavy ballast in caissons and scour protection




Aethel Material

It takes all types to make Aethel great.  If you are someone who values truth, is curious about the world and has the dedication to reach for ambitious goals, we want to hear from you.  We do not only look for people who can do a particular job.  We look for people who can create value.


Through contributing our people, capital and ideas, we pursue community development projects that encourage growth, innovation and economic progress.

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Aethel Mining UK
27 Old Gloucester Street
London W1CN 3AX

Aethel Mining Portugal

Bairro das Ferrominas

Quinta da Salgueireda, nº 4

Carvalhal, 5160-081 Felgar

Telephone +351 279 010 605

Fax +351 279 928 094

General enquiries:

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