Business
Brazil warns ‘we’ll be back’ with iron ore expansion threat – The Australian Financial Review
As Australia’s high-flying iron ore miners focus on the threat posed by new African mines, Brazil’s Vale flagged a big expansion and vowed ‘we’ll be back’.
”Vale is the only company that can bring back almost 100 million tonnes in the next two years,” Vale’s iron ore boss, Marcello Spinelli, said in response to a question about Simandou’s potential.
“We’ll be back.”
For context, Australian miners collectively exported about 852 million tonnes of iron ore in the year to June 30.
The expansion at S11D is expected to initially be 10 million tonnes of extra annual capacity, but Vale is understood to be studying ways to bring on a further 20 milli…
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