The world's largest iron ore miner Brazil-based Vale has announced that its plans to invest $2.9 billion to expand the port of Ponta da Madeira in northern Brazil, making it the largest port in the country.
In 2010, Vale shipped 294.4 million mt of iron ore and pellets. The company intends to boost throughput at the port of Ponta da Madeira to 150 million mt. After the expansion, the port is expected to be able to hold two large iron ore carriers simultaneously.
Apart from iron ore, the port also caters for transportation of corn and beans.