OMAN’S VALE TO INCREASE PELLET SUPPLY BY 2 MILLION T

摘要

Brazil’s Vale plans to invest in expanding DR pellet production at its Omani asset in the next few years. The initiative will help to soften pellet supply shortage, but not to fully solve the problems of the MENA steelmakers due to the global iron ore market factors. Vale intends to increase DR pellet production in Oman by 2 million t annually by implementing a $30 million investment project, according to the official information. The company aims to strengthen the presence in the Middle East amid the growing demand for pellets in the region and globally. “We see the increase in pellet demand worldwide around 33% over the coming years [until 2025],” Peter Poppinga, Vale’s executive director of ferrous minerals and coal, said during the Investor Day.