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FINANCIAL NEWS
Vale Oman’s production hits record-high in Q2
27 Jul 2015
(MENAFN) Sohar Port complex of Brazilian mining firm Vale said production of iron ore pallets surged to a record-high of 2.419 million tons in the second quarter of the year, Oman Observer reported.
Production at the massive pelletising plant, which supplies direct reduction pellets as feedstock to a number of steel mills in the Middle East and Asian regions, soared 27.7 percent over the prior quarter.
Compared to the same quarter a year earlier, output growth in the first quarter of 2015 was 17.7 percent, coming on the heels of a major maintenance shutdown that took place in February.
Established with an investment of around USD2 billion, Vale’s Oman project is integrated with a distribution center that has a throughput capacity to handle 40 million tons per annum of iron ore and pellets.
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