Founded in 2011, MLog S.A. was established through the combination of intellectual and financial capital, with a focus on developing the Morro do Pilar Mining Project (MOPI Project), which holds iron ore mining rights in the Quadrilátero Ferrífero region, in the state of Minas Gerais, southeastern Brazil. The Company received significant financial backing from both domestic and international investors, who together contributed approximately US$850 million at the time.
With certified resources of 1.6 billion tons (1.3 billion measured and indicated), the project under development aims to achieve an annual production capacity of 25 million tons of high-quality pellet feed, with a high iron content (68.5%) and low impurity levels.
The application for the project’s Installation License was submitted in August 2019 and updated in October 2021, incorporating the filtration of 100% of the generated tailings as well as project phasing. These updates align the project with the best available environmental practices, while also reducing both the required investment and the timeline for the start of operations.
It is also noteworthy that MOPI has been authorized to construct two railway sections connecting the mine to third-party logistics corridors. Additionally, it holds preliminary grants for water abstraction rights from the Santo Antônio and Preto rivers, in sufficient volume (3,000 m³/h) to support the project’s implementation.
Currently, the MOPI Project is in the process of obtaining the Installation License
In 2015, the merger with Asgaard Navegação led to the expansion of the Company’s business, which began operating as well in the offshore maritime support segment.
In 2016, the Group achieved important milestones, highlighted by the delivery of the first vessel commissioned by the Group, the OSRV Asgaard Sophia, and the execution of a charter agreement for this vessel with Petrobras. Also noteworthy was the Group’s diversification and geographic expansion strategy, including the acquisition of 100% of the shares of Companhia de Navegação da Amazônia (CNA), a key player in the Amazon region’s inland waterway transportation market, which also holds authorization to carry out bunkering activities throughout Brazil.
In 2020, MLog entered into an agreement with Bourbon Offshore Marítima (“BOM”), resulting in the acquisition of three Brazilian AHTS vessels owned by BOM, as well as a partnership to operate Brazilian and foreign offshore support vessels of both the Bourbon Group and the MLog Group in Brazil. As a result of this transaction, Asgaard Navegação was converted into the joint venture Asgaard Bourbon Navegação (“ABN”), with MLog holding a 50% equity stake. In March 2026, MLog acquired the remaining shares and assumed full control of the company, subsequently renaming it Columbus Offshore. This transaction enabled the full integration of the asset into the MLog Group’s offshore shipping portfolio.
As part of the efforts to structure Navigation and Mining activities in a segregated manner, in 2022 MLog established Columbus Shipping, a wholly owned subsidiary that will consolidate the assets, liabilities, and businesses related to Navigation.
Strategy
Columbus Offshore
CNA - Companhia de Navegação da Amazônia
COLUMBUS
MOPI - Morro do Pilar S.A
