With Vale Mining Activities Suspended at Plant in Minas Gerais, Iron Ore Price Soars in China

Written by Kelly

Published on 29/09/2020 at 11:00

Mina de ferro da Vale/Imagem: Divulgação

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This Suspension of Vale’s Operations in MG Came After a Court Decision, Which the Mining Company Has Indicated It Will Appeal

The Brazilian mining company Vale announced in a document on Monday (28) that it is temporarily suspending operations at its Viga concentration plant in Minas Gerais, which will result in 11,000 tons less per day of iron ore production. Consequently, the negotiations stirred the Chinese market.

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Iron ore is also supported by China’s demand for steel, particularly for the construction sector, which has been boosted by government stimulus measures focused on infrastructure. The three major global companies that operate significantly in the maritime iron ore trade are Vale, Rio Tinto, and BHP.

This suspension of Vale’s operations occurred after a court decision, which the mining company has stated it will appeal and is moving to reactivate production at the closed mines.

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With Vale Mining Activities Suspended at Plant in Minas Gerais, Iron Ore Price Soars in China

This Suspension of Vale’s Operations in MG Came After a Court Decision, Which the Mining Company Has Indicated It Will Appeal

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With Vale Mining Activities Suspended at Plant in Minas Gerais, Iron Ore Price Soars in China

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