Brazil mining company Vale announced plans to double its iron ore exports to China within the next five years.
The information went public this week, after the company’s head of ferrous metals, Jose Carlos Martins, talked to reporters.
In 2013, China represented 38.6 percent of Vale’s total revenues, and the company announced earlier this year that it is planning to increase its total iron ore production by 50 percent to more than 450 million tons a year by 2018.