Iron ore majors ramp up supply even as China faces challenges
Iron ore is one of the year’s worst performing major commodities, slumping by almost a quarter as China’s property crisis drags on.
CORDOBA, ARGENTINA–(Marketwire – Jul 3, 2012) – Researched by Industrial Info Resources (Sugar Land, Texas) — The giant Brazilian mining company Vale S.A. (NYSE:VALE) (Rio de Janeiro) has received the preliminary license for the S11D iron-ore mine project in southeastern area of the Para state in northern Brazil. The project entails the expansion of mining operations and a processing plant at the Carajas mining complex, which has been operational since 1985. Currently, the complex is the biggest producer of iron in the world, with a record output of 109.8 million metric tons in 2011.
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