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The mining company Vale announced Tuesday that it has signed an agreement with Hankoe FIP to acquire New Steel, a company developing innovative technologies for the valorization of iron ore for a total of 500 million dollars.
7/8/2017 REUTERS / Ricardo Moraes
Photo: Reuters
New Steel, the world's largest producer of iron ore, claims to currently have patents for dry concentration processes (FDMS) in 56 countries.
"This technology will support the development of Vale's high-quality pellet feed initiatives, including the 20 Mtpy pellet feed project of the Southeastern System," said the Brazilian mining company.
Vale's focus is on sales of high quality iron ore, supported mainly by the S11D project in Pará, due to China's strong demand for the least polluting product.
Through a strong cash generation from the sale of its high quality ore, Vale announced last week the purchase of the tranche
Vale said that it would use some of its resources for small acquisitions.
According to Vale, it is expected that transa The new steel is to be completed in 2019, subject to the satisfaction of certain prerequisites, including the approval of the Administrative Council for Economic Defense (Cade ).
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