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.  Circa 2 million tons of iron ore were exported from Moncorvo in the 60’s and 70’s before operations ceased due to uncertainties in the local business environment.


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.



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 has achieved concentrations of 67.8% iron in laboratory and bench tests.


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



MuaDense is a high grade natural aggregate, manufactured from the iron oxide hematite. With its high density, MuaDense is used as loose ballast or as aggregate to produce high quality, high density concrete. This heavy concrete is some 60% heavier than normal concrete and is easily produced and placed using standard equipment.

Because of its high particle density, MuaDense has several advantages:

  • Reduced volumes = less excavation, transportation, reinforcement & time

  • lncreased weight for a given volume

  • Reduced heat of hydration

  • High submerged/saturated density

  • Space saving

  • Noise and vibration dampening

  • Thermal energy storage

Applications include:

Loose ballast

  • Offshore ballasting of rigs and caissons

  • Scour protection for underwater structures of pipelines

  • Ground stabilisation - to reduce piling


Heavy concrete

  • Under water concrete (tunnels, pipeline mattresses)

  • Counterweights (bridges, locks, sluices, elevators, excavators)

  • Coastal protection (breakwaters, precast antifer cubes)

  • Pipecoating (negative buoyancy coatings)

  • Radiation shielding (hospital radiation rooms, nuclear waste containers)




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.




Aethel Mining UK
67 Grosvenor Street
London W1K 3JN

Aethel Mining Portugal

Rua Visconde de Vila Maior, nº 5
5160-200 Torre de Moncorvo


General enquiries: info@aethelmining.com

Sales enquiries: sales@aethelmining.com

Careers enquiries: careers@aethelmining.com

Media enquiries: media@aethelmining.com

Copyright © 2020 Aethel Mining, Ltd. All rights reserved.