Brazilian iron ore producer and miner Vale said late last week that it plans to keep its investments in Itabira, in the state of Minas Gerais, despite company reports that the mine’s iron ore reserves will be depleted by 2028.
“We’re not leaving Itabira,” said Rodrigo Chaves, Vale’s Southeast system ferrous manager, in a meeting with local officials. “We’ve got three plants with the world’s most advanced technology for iron ore treatment, and that brings competitiveness to Itabira and the assurance we’ll continue our operations (here).”
The Itabira mine, which includes three iron ore processing units, produced 37.8 million mt of iron ore in 2017, according to a Vale F20 form.