The most important news from the South American steel and mining market is to Brazil. Vale Mining Company has recently reduced its projected iron ore production capacity for next year. Excavations at the company appear to have stalled. This could overshadow the stockpiles of Chinese and other raw material consumers. The downward trend in the market seems to be continuous. In the following, we will evaluate this issue, quoting Metal Bulletin. Please be with Artan Press.
*** Reduction of production estimates in Vale Mining Company
Vale of Brazil has reduced its estimated iron ore production capacity for 2022. Operations to increase drilling capacity in northern Brazil have slowed. A spokesman for the mine told analysts on Thursday (September 9th) that the company expects its iron ore capacity to reach 370 million tonnes a year by the end of 2022. This is a significant difference from the previous estimate of 400 million tons. According to a spokesman for the Vale Mining Company, the production capacity of 400 million tons of iron ore may be realized in the medium term. Even in the long run, the production of this complex can exceed 450 million tons.
*** Delay in obtaining a license; The most important reason in reducing production estimates
Vale is facing delays in obtaining the necessary permits to maintain production at its Serra Norte mining complex in northern Caracas, Brazil. The Gelado pellet feed project, which has a capacity of 10 million tons, is also expected to slow down production. This will cause its production in the complex to be lower than expected in operational units. Vale Mining Company’s projects will probably require capital injection in the near future.
*** Increase the iron ore capacity of Vale Mining Company from September 1
Vale has increased its iron ore capacity by 17 million tons since September 2020, from 318 million tons to 335 million tons. Iron ore prices have fallen in the past few weeks. The daily Fast Markets Iron Ore Index of 62% Fine Iron, cfr Qingdao Port, reached $ 130.26 per tonne on Thursday, down $ 54.16 per tonne from $ 184.42 per tonne on August 2. Vale Mining Company is moving towards a green steel economy. Its goal is to reduce greenhouse gas emissions by 10 percent from steelmaking customers.
*** Green briquettes are new products in Vale production basket
Briquettes are made from iron ore and a collecting solution that contains sand from mine tailings treatment. Emission reductions occur because this product allows steelmakers to depend on steel processing. Reduce. This innovation happened for the first time in Vale Mining Company. A pre-production process in steel where there is an accumulation of sintering feed. Green briquettes are part of Vale’s strategy to reduce GHG emissions, up to 15% by 2035.
*** Estimation of briquette production in Vale Mining Company
Production of green briquettes is initially being converted to pelletizing plants 1 and 2 in the Tubara unit in southeastern Brazil, in the province of Esperito, for this purpose. This issue has been tested in several other mining complexes after localization. It seems that the initial production capacity of green briquettes in Vale Mining Company will initially reach 7 million tons. In its plan, this route envisages the opening of three factories by 2023. The investment in this project is over 185 million dollars.
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