Brazilian miner Vale and its JV partner Ningbo Zhoushan Port have agreed to invest around $650mn in an ore storage and processing facility at the Shulanghu terminal in China.
According to media reports, the partners plan to build an iron ore storage yard, with a capacity to hold 4.1mn mt of material, alongside the grinding hub which will produce 3mn mt of GF88 per year, by blending Vale’s Carajas Fines (IOCJ).
In all, the processing facility is slated to be built to handle 21mn mt of iron ore in a year. The construction of the project will increase Vale’s ore handling and distribution capacity in the Chinese region by storing material at the ore terminal itself.