Vale’s iron ore-focused company New Steel plans to start up an industrial plant by 2022, a media report from Reuters said.
Late in 2018 Vale agreed to buy New Steel for $500 million. New Steel develops iron ore beneficiation technologies and owns patents for dry processing concentration (Fines Dry Magnetic Separation - FDMS) in 56 countries. The plant should have a 1.5 million mt/year iron ore waste processing capacity.
New Steel has yet to disclose the location of the new site. The Reuters media report said the site could be located in Minas Gerais state, where Vale has most of its iron ore dams.