The company planned to invest US$1.2 billion in a third palletizing plant, with nominal capacity for 7.6 million tons per year. This project also includes the construction of an iron ore beneficiation plant and an ore pipeline linking the mine to the pelletizing facility.
October 24, 2005
Brazilian companies have cleared huge iron ore investments lately to meet strong demand from China plus domestic needs, José Alberto Baltieri, a mining analyst with Brazilian brokerage house Fator, told BNamericas.
Baltieris was responding to questions about why Brazil's iron ore sector recently approved nearly US$2 billion in expansion projects for iron ore. Specifically, the board of Brazilian iron ore mining company Samarco approved a US$1.18 billion expansion plan to boost pellet output while Brazilian mining company Caemi cleared the way for iron ore subsidiary MBR to invest US$759 million.
October 20, 2005
The board of Brazilian iron ore mining company Samarco has approved a US$1.18 billion expansion plan to boost pellet output, the company said in a statement. Samarco is a 50:50 joint venture between Brazilian iron ore miner CVRD and Anglo-Australian mining house BHP Billiton reports BNamericas.
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