CVRD hits monthly ore production record

Brazilian mining company Companhia Vale do Rio Doce SA (CVRD) hit a monthly iron ore production record last month at its Carajas mining complex in the Amazon. In November 2006, CVRD's four-mine facility had an iron ore output of 7.8 million metric tons (8.6 million net tons). Carajas produced a total of 59.6 million metric tons (65.7 million net tons) of iron ore from January to September, 2006. Carajas expects to produce 100 million metric tons (110.23 million net tons) of iron ore annually by next year. China's steel industry accounts for much of the strong global demand for this product.