Vale intends to maximize output of mines as iron ore supply evens out

According to international media reports, Brazil-based iron ore giant Vale has announced that an expansion of iron ore output is needed as the older mines become more depleted. Vale intends to maximize output as the supply of iron ore balances out globally. During a conference in Beijing, China, the company also discussed ongoing talks with other countries--including Japan and South Korea--about allowing its Valemax ships to enter their ports. As SteelOrbis has previously reported, Vale and the Chinese government have gone back and forth about the Valemax ships being allowed to enter their ports due to the size of the ships--which can carry 400,000 tons of iron ore. As of now, Vale is using transport vessels to move iron from the Valemax to smaller ships which can then enter Chinese ports.