Vale opened this weekend the S11D iron ore mine in Brazil – its biggest project ever, adding 75M metric tons of production when it reaches peak output in four years and firmly lifting Vale over Rio Tinto as the world’s top iron ore producer.
Read MoreThe import price of 62% Fe content ore at the port of Tianjin declined more than 2% to trade at $56.20 per dry metric tonne on Wednesday, a near-eight week low, according to data supplied by The Steel Index.
Read MoreCredit Suisse Bank analysts said in a report released on monday (21), believe that Vale will face a period “challenging” in 2016 and 2017. “Before it returns to a robust cash generation in 2018, when we expect prices base metals and iron ore recovery, the S11D project [of iron ore in Carajas] will be in ramp-up,” says the document.
Read MoreThe new design of the Vale S11D iron project, former Serra Sul, which will produce 90 million tonnes per year of iron ore, is to get a CAPEX of $19 billion. Sixty percent of that CAPEX will be invested in railways, port terminals and rail and maritime terminal. That is the largest investment project is aimed at expanding the capacity of mining logistics.
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