It is reported that when Brazil's government recently announced plans to triple its output of iron ore, copper and gold by 2030, the news had special meaning to Vale SA.
Vale is Brazil's largest mining company and one of the biggest in the world. The lineup of materials it produces includes iron ore and iron ore pellets as well as nickel, manganese ore, aluminum, copper, gold, silver and potash.
On February 8th 2011, Brazil's government unveiled a 20 year, USD 270 billion plan to increase its production of iron ore, copper and gold. The Carajas iron ore mine in Para, northern Brazil, is one of the mines operated by Vale.
The Carajas iron ore mine in Para, northern Brazil, is one of the mines operated by Vale.
Among other things, the plan calls for companies to add value to their products before exporting them by investing in processing facilities such as steel mills. The plan also seeks to decrease Brazil's reliance on China, its biggest trade partner, by diversifying its customer base to include other countries.
Vale itself gets much of its business from China. Last quarter, China's share of Vale's ferrous mineral sales increased to 46% from 39% the previous quarter. Total sales of ferrous minerals, or those rich in iron, accounted for 64% of Vale's overall sales during the quarter.
豫公网安备41010502003434号