On October 28th, Vale and Jinnan Iron and Steel Group announced a partnership to establish an iron ore beneficiation plant at the port of Suhar and free trade zone in Oman.
It is reported that the initial investment of this project exceeds 600 million US dollars and will provide high-quality iron ore for pellet and pellet production in the region. The Suhar beneficiation plant is planned to be put into operation in mid-2027, processing 18 million tons of iron ore annually and producing 12.6 million tons of high-grade concentrate. Vale will invest $227 million to connect the beneficiation plant with the mass production facilities in the region.
Vale plans to replicate this investment model in mega hubs. In these mega hubs, the mining company is expected to construct and operate beneficiation and compaction plants; Local partners will drive the construction of the necessary logistics infrastructure; Investors or clients will construct and operate a direct restoration factory and become the purchaser of hot pressed iron blocks. Vale has announced the development of three mega hubs in the Middle East and signed agreements to develop the same model in Brazil and the United States.
Article: Huo Xingyu