Brazils Vale plans to continue Itabira investments

2018-07-25 14:00:38

Brazilian miner Vale will continue its investments in the municipality of Itabira, even though iron ore reserves in the region will be exhausted in a decade, says the company’s southeast regional manager, Rodrigo Chaves. The executive attended a meeting, monitored by Kallanish, with authorities of the Itabira municipality in Minas Gerais state.

"We have three mills here with the worlds most advanced iron ore treatment technology,” the manager confirms. “This brings a very great competitiveness to Itabira and the certainty of continuity in mining.”

According to Vale’s Form 20-F report to the US Securities and Exchange Commission, Vale produced 37.8 million tonnes of low-grade iron ore (45.6% Fe) in Itabira in 2017. This volume represented 10.3% of the companys production in Brazil of 366.5mt. The mining complex has proven reserves of 738.6mt and probable resources of 181.6mt.

The Itabira integrated operation includes the Conceição and Minas do Meio mines.