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FINANCIAL NEWS
Omani Vale Pelletizing Co. logs 7 percent climb in yield
03 Nov 2015
(MENAFN) Vale Oman Pelletizing firm, the Brazilian-Omani duel venture that operates a massive iron ore pelletizing plant at Sohar Port, registered a production record for the nine months to Sep period.
Additionally, the international top mining conglomerate declared that its production jumped 7.2 percent for the mentioned period to hit 6.6 million tons from last year’s reported 6.2 million tons.
Furthermore, the ore is sent from Vale’s mines in Brazil to Sohar via Very Large Ore Carriers (VLOCs) of a volume of around 400,000 metric tons, plus a smaller fleet has been deployed to transport iron ore pellets.
In more detail, Vale Oman is 70 percent possessed by Vale SA, with Oman Oil Company, which represents the investment arm of the Omani government owning the other 30 percent.
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