Brazil-based miner Vale predicts 60 million tonnes of iron ore supply will be added to the seaborne market in 2021, with it being one of the main contributors to that volume, ferrous director Marcello Spinelli said on Tuesday April 27.
Brazil alone will account for around 40 million tonnes of that production growth, Spinelli said.The iron ore producer plans to add 10 million tonnes per year to capacity at Vargem Grande, in the southeastern state of Minas Gerais and part of its Southern System of operations. Ramp-up of its new conveyor...