Mining Company Vale Expands Operations in Maranhão to Meet China's Demand for Iron Ore

Mining Company Vale Expands Operations in Maranhão to Meet China’s Demand for Iron Ore

Written by Kelly

Published on 07/08/2020 at 15:00

Navio da Vale do tipo Valemax/ Imagem: Divulgação

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After China Approved Four Ports on Its Coast Last Month and Increased Demand for Iron Ore, Vale Decided to Expand Exports of the Product Through a Terminal in Maranhão

Vale is targeting new business to meet Chinese demand and intends to increase iron ore shipments to the Asian country. To this end, the Brazilian miner is looking to explore a port terminal in Maranhão.

Vale’s Action Comes After China Approved Four Additional Ports on Its Coast

Strong Chinese demand along with supply concerns have driven the price of iron ore above US$ 110 per ton in July, a record high since August 2019.

“Vale’s Valemax ships were a creation of Brazil to bring its mines closer to China. Therefore, the approvals of the four deep ports are a vote of confidence in (Vale’s) ability to provide quality iron ore. We believe it is important for China to have diversified suppliers”, said Paulo Salvador, an executive of the private operator of the Alcântara terminal, Grão Para Multimodal (GPM).

Transporting Vale’s Iron Ore to China Has Already Resulted in an Accident on the Coast of Maranhão

The Cargo Ship Stellar Banner, which ran aground on the coast of Maranhão in February this year during the transport of iron ore from Vale to China, suffered a ‘forced shipwreck’ about 150 kilometers off the coast of Maranhão.

According to the Navy, the ship is already being prepared to prevent environmental damage. Oil residues, as well as floating or contaminating objects on board, have been removed. Learn More Details Here.

Mining Company Vale Expands Operations in Maranhão to Meet China’s Demand for Iron Ore

After China Approved Four Ports on Its Coast Last Month and Increased Demand for Iron Ore, Vale Decided to Expand Exports of the Product Through a Terminal in Maranhão

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Vale’s Action Comes After China Approved Four Additional Ports on Its Coast

Transporting Vale’s Iron Ore to China Has Already Resulted in an Accident on the Coast of Maranhão

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Mining Company Vale Expands Operations in Maranhão to Meet China’s Demand for Iron Ore

After China Approved Four Ports on Its Coast Last Month and Increased Demand for Iron Ore, Vale Decided to Expand Exports of the Product Through a Terminal in Maranhão

See Also Other News

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Transporting Vale’s Iron Ore to China Has Already Resulted in an Accident on the Coast of Maranhão

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