Vale Expands Amazon Mining For Clean Steel

Vale SA is spending $2.7 billion to grow iron production in Brazil's Amazon. They believe people will still want high-quality ore even though the market is weaker.

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Vale is building up the world's biggest open-pit mine in Carajas. They have told reporters that they will be able to produce 30 million metric tons more. This is all part of a plan to provide 260 million tons from their northern camps by 2025.

Vale hopes to beat its competitors with the S11D mine and adjacent ore-bodies, worth $14 billion. They want to stay ahead in a market where demand from Chinese steel mills has decreased and futures have dropped, but rich ore still has value.

Ore from beneath Carajas' topsoil has more iron, enabling less usage of fossil fuels to make steel which helps the world to decarbonize. However, making environment-friendly steel has resulted in a massive Amazonian footprint that looks like Mars. This mining operation occupies just 2% of the Amazon but it is an important green mosaic that is home to various indigenous communities.

Iron ore prices have fallen for the second day. The demand outlook for iron ore is getting worse. You can read more about this news.

S11D uses electric excavators and conveyor belts to reduce mining impact. This means less trucks and diesel consumption. Vale helps with conservation efforts too. They monitor illegal mining.

S11D work is in Vale's value-over-volume plan. It moves away from older and lower grade mines in Brazil's south. The work is in the Serra Sul complex.

A miner from Rio de Janiero has now become a crucial player in the iron ore industry. This happened after a dam disaster in 2019 led to a decline in its operations. This caused it to fall behind Rio Tinto Group in producer rankings. Vale has given up on trying to return to the pre-disaster production levels. Instead, it is now working on expanding its northern capacity. This expansion was responsible for 60% of its production in the previous year.

Vale got permits to work on S11D. They'll add a new conveyor belt, a fourth plant, and duplicate some of the railroad. There's another thing called Gelado, where they'll turn waste into good stuff.

Vale needs to invest in logistics at S11D. More ore needs to be transported. The railroad going to port will have a capacity of 240 million tons.

Mining at Serra Norte started in the 1980s. But now, production is going down. Vale can't get permission to mine from new ore-bodies fast enough. Pits are getting empty. It's not the same as at Carajás.

Joao Falcao, the director of Serra Norte operations, stated that the latest license they acquired for a fresh mining project was at the Morro 1 mine in 2019.

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