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With the Acquisition of Developer Ferrous Resources, Vale Announces Its Business Plan Through 2023, Including Projects for Improvements in the Quality of Iron Ore Products for Export
Vale plans to expand its distribution and blending capacity of iron ore from Malaysia from 10 million tons/year to 40 million tons/year by 2022, to allow for more blending and sales to new markets.The $130 million expansion will allow the hub to reach new customers in India and Southeast Asia, said Vale.
In India, more and more iron ore is arriving in the country for blending and use in pellets, Vale said, and there are also tolling agreements in India and the Middle East with pelletizing plants, the company stated.
Vale will expand its pellet offering to external plants, with more volumes starting in 2020, said Peter Poppinga, Vale’s Executive Director of Ferrous Minerals and Coal, at the event in London. In Oman, a $30 million project is planned to add 2 million tons/year of pellet capacity starting in the second half of 2020 at its existing site in Sohar.
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In southern Brazil, the acquisition of Ferrous Resources, which Vale says has iron ore concentrate with qualities that allow for the production of more demanding direct reduction pellets, is part of a strategy to boost its higher quality products.
In Vargem Grande, the company will explore ultrafine iron ore in two years with advances in processing. The company is also investing in optimizing dry processing to extract higher quality ores.
Vale stated that it will invest $820 million over five years, and pellet feed production in southern Brazil is expected to grow from 2 million tons in 2020, with increases in 2021-2023 to 20 million in the long term as part of the initiative to shift to higher quality ores.
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