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FINANCIAL NEWS
Vale plans to boost output at Oman mine
04 Mar 2012
(MENAFN) Vale, the world’s second largest mining company, unveiled plans to increase production at its new iron-ore pellet plant in Oman, Arabian Business reported.
The Brazilian company already hit full production capacity at its Sohar-based plant and is set to expand output further this year.
Vale aims at reaching output to 12 million metric tonnes by 2015 from current 9 million metric tonnes, the company said.
Vale invested more than 1.36 billion in the mining complex, along with USD750 million from the Omani government, which includes two pelletising units and a distribution centre with a 40 million tonnes output capacity annually.
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