Vale SA Plans to Use Conveyor Belts, Amazon Railway to Cut Costs

Bloomberg reported that Vale SA, in its bid to retake the title of the world’s second biggest mining company by value will replace trucks with 23miles of conveyor belts and build another railway through the Amazon. It is a $20B project, the most expensive project in the industry to date.

As quoted in the market news:

Vale, the world’s third-largest miner by value, is seeking to recover ground in the seaborne iron-ore market that it has lost to Australian rivals since 2007. The Serra Sul project will aid Vale shares as it cut costs per ton by tapping richer grades with improved technology, said Jonathan Brandt, an equity analyst at HSBC Holdings Plc.

Click here to read the full Bloomberg report.