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.
Brazilian miner Vale SA is considering building a new railway and port in the Para state for the potential expansion of its Carajas Serra Sul mine, the company said in a presentation to investors published on Tuesday.
The new railway would stretch for 400 kilometers (248.5 miles) from the current Carajas railroad to Vila do Conde port, in the northeastern Brazilian state of Maranhao.
Vale said last month that it was considering doubling production at Serra Sul Carajas, where its giant S11D mine is located, to 150 million tonnes a year.
(By Marta Nogueira and Tatiana Bautzer; Editing by Christian Plumb)
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