Brazil To Overtake Australia As Top Iron Ore Exporter

Reuters reported  Brazil will overtake Australia and regain its position as the world’s top iron ore exporter in 2017 after Vale SA (SAO:VALE5) starts operations at a new mine near the Amazon.

As quoted in the market news:

The reversal will be sealed by the addition of new mines in Brazil, including Vale’s 90 million-tonne-a-year Serra Sul mine at its Carajas complex in Brazil’s northern Amazonian state of Para, investor relations director Roberto Castello Branco told investors in Rio de Janeiro.

Serra Sul is expected to start operations in 2016.

Click here to read the full Reuters report.