German company Thyssenkrupp plans to manufacture parts and mining equipment in Brazil due to growing demand from miners in the country from local manufacturers, according to media reports.
The company sold products made at its facility in Germany’s Ennigerloh until now. Around 80pc of Brazil’s iron ore output uses Thyssenkrupp equipment.
The company will upgrade its service centers in Minas Gerais and Pará to produce the machine parts and equipment. In August, the company presented a plan to invest $23.7bn in Brazil in the coming years in the areas of mining and tailings dam infrastructure, mainly focused on protection, containment, and repairs of dams.