Vale - Latest news GMK Center

The industrial complex will produce steel products for both the local and global markets

It is about the transportation of iron ore from the Vale industrial complex in Oman to the future complex in the UAE

The production of iron ore pellets increased by 20.1% y/y in January-March

For the production of products, instead of traditional fossil raw materials, the company used biochar obtained from biomass

In 2022, the company's pellets production amounted to 32 million tons

In the fourth quarter of 2022, net revenue decreased by 30.4%

The production of iron ore pellets increased by 1% year-on-year

The company's sales of iron ore on the domestic market increased by 40.4% y/y

CMRG consolidates raw material purchases of about 20 of the largest Chinese steel producers

The production of iron ore pellets until 2030 is planned at the level of 100 million tons per year

The company signed a memorandum of understanding with the National Center for Industrial Development of Saudi Arabia

Weak operating results mainly reflect falling iron ore prices