Demand in China prods Vale to mull greater iron ore output

4 August 2020

The board of Brazilian miner Vale SA is due to consider this month a proposal to expand the Vale mining complex in the northern Brazilian state of Pará to meet strong demand for iron ore in China, Reuters reports.

The news agency quotes Vale executives as saying theirs is the only mining company capable of providing the extra 100 million tonnes of iron ore that the Chinese steelmaking industry needs.

The executives said last week the Pará complex had set a new record for output.

Elsewhere in Brazil, Vale is seeking to restart in December work at its Samarco mine, a joint venture with British-Australian miner BHP, which was halted when a dam there burst five years ago, Reuters says.

(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):