Vale has completed the transfer of its mining rights in the Alegria and Conta Historia Norte iron ore mines to Samarco, the joint venture the company partially owns, according to Brazilian antitrust council Cade.
As counterparty in the deal, BHP Billiton, the other 50% owner of Samarco, ceded mining rights of the Itajuru and Pitangui mines to Vale.
Without revealing total capacity of each mine, Cade said Tuesda the "total potential [of iron ore production] transferred from Vale to Samarco is more than double the total potential [of iron ore production] received by Vale from BHP."
The Samarco Alegria mine is located in Brazil's Minas Gerais state. Vale declined to comment on the deals.
Samarco produced 21 million mt of pellets in 2013, roughly 50% for blast furnace feed and 50% for DRI production. Of the total production, 30% was shipped to the Middle East, 20% to Europe, 20% to Asia excluding China, 15% to China and 15% was sent to the Americas.
For 2014, the pelletizer expects to produce 28 million mt, and it also projects beginning 2015 with a nominal capacity of 30.5 million mt/year.
Source: Platts
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