Several steelmaking and mining companies, including Usiminas, Vale and Vallourec, plan to invest a combined BRL 2.4 billion ($611.2 million) in the state of Minas Gerais, SteelOrbis has learned. Governor Romeu Zema said the investments are part of a state’s broader investment plan of BRL 14.7 billion ($3.6 billion) in different areas.
According to a government document, Usiminas Mecanica, a subsidiary of flats producer Usiminas, plans invest BRL 11.5 million ($2.8 million) to acquire new equipment.
Mineração Usiminas, the iron ore arm of Usiminas, expects to spend BRL 162 million ($40 million) to install a new iron ore waste filtering system for dry iron ore stocking. The project should be completed in 2020.
Vallourec said it would invest BRL 220 million ($54.1 million) by 2022 to increase iron ore capacity by 3.6 million mt/year out of its Mina Pau Branco mine.
Brazilian miner Vale plans to invest BRL 1.24 billion ($305.2 million) at its Brucutu mine as part of an undisclosed project.
Other initiatives include a BRL 559 million ($137.6 million) iron ore project by Taquaril Mineração and a BRL 292 million ($71.8 million) mine with a capacity of 1.2 million mt/year by JMN Mineração.