Brazilian miner Vale, the world's largest producer and exporter of iron ore, has announced its intention to build a new steel plant in Maraba, in the state of Para, Brazil.
The new mill is planned to have an annual production capacity of 2.5 million mt of semis and is expected to start operations in 2013. The total cost of the investment will amount to $3.3 billion
In addition, the project includes the construction of an integrated plant for the production of HRC, heavy plate and billets, with a combined annual production capacity of five million mt, and also involves the construction of a coke plant - both plants to be located in Barcarena.
Currently, Vale is looking for partners to promote the development of the Brazilian steel industry, which will lead to increased consumption of high quality iron ore.