Platts: Vale to offer new type of iron ore to the Market

Brazillian Vale Iron ore Carajas mine
Brazillian Vale Iron ore Carajas mine

Vale, the world’s largest iron ore exporter, will offer a new product — Brazilian Blend fines — to its contract customers by this month, a company official said last Thursday. The BRBF, which will have typical iron content of 63.1%, will be a blended product of Iron Ore Carajas fines from the northern system and high silica ores from the southern system, said Cecilia Silva, Vale’s Commercial Marketing General Manager, Iron Ore, at a major iron ore conference in Singapore Thursday.

Brazilian Blend fines will contain typical 1.7% alumina, 4.6% silica, 0.035% sulfur, 0.06% phosphorus, 0.5% manganese, 0.5% and 2% loss on ignition level and will be blended in the distribution center in Malaysia.

A company official from Vale said that BRBF could be offered in the spot market for as soon as this week on either a fixed price of floating price basis.

$3bilion Credit facility granted…

The Brazilian miner said  on Friday it secured a $3-billion revolving credit facility for a term of five years. The credit line, which was signed with a group of 24 global banks, replaces a previous facility for the same amount secured in 2011. Vale said in the statement it also has another credit facility for an additional $2-billion. The company has seen its free cash flow eroded by the falling price of iron-ore.

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