Brazilian mining giant Vale has given detailed plans of its new iron ore hub in Malaysia, Seatrade Asia online reports. The Teluk Rubiah facility will also feature an iron ore pellets plant, Vale has revealed. A total of $5bn will be pumped into the facility over the next 10 years, Vale has said, to give it an annual 200m ton capacity.
The facility will cater for Vale’s slew of new VLOCs taking iron ore from Brazil for onward distribution, principally China. Vale had planned to make this facility in Qingdao but officials in China blocked the move for fear it would give Vale too much control in pricing iron ore.
The facility will cater for Vale’s slew of new VLOCs taking iron ore from Brazil for onward distribution, principally China. Vale had planned to make this facility in Qingdao but officials in China blocked the move for fear it would give Vale too much control in pricing iron ore.