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.

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Published on Brasil Mining 18/03/2021.