Samarco to reduce pellet shipments to China slightly

According to an announcement from Brazil-based Samarco - the joint venture formed by equal investments from CVRD and BHP Billiton - the company is planning to reduce its pellet shipment to China from the 4.2 million tons recorded in 2006 to four million tons in 2007. The 4.2 million tons in 2006 accounted for 28 percent of the company's total sales. Apart from the shipments to China, the company exported 21 percent of its 15 million tons production to other Asian countries, 21 percent to Europe, 21 percent to Africa and the Middle East, and the remaining nine percent to South and North America. The company is not planning to increase its production until its new pellet facility is completed in 2008.