Massive new port could give Vale back iron ore crown
“High rain volumes at major ports will continue to represent a challenge for Brazilian players during 1Q. So far, Brazil is running below guidance,” XP investments said in a note.
In January, a fire hit pier 4S shiploader at Ponta da Madeira – one of the most important iron ore and manganese loading terminals in the world, shipping point for Vale’s high-grade Iron Ore Carajas – and the repair could impact the company’s shipment capacity.
Meanwhile, a project for a dedicated iron ore port with a capacity of up to 560 million tonnes per year (more than double Ponta da Madeira) is advancing in the north of Brazil.
See full article here.
Published on Brasil Mining 18/03/2021.
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