@daltham Correct. It gives them a second option, and possibly helps keeps a lid on the IO price. CCCC is an interesting company, with mega projects all over the world. Just that they seem to have lucked out with Brazil. Vale- a company that likes to keep a lid on sensitive news. The big question really is about the impact of COVID 19 on production in the Northern System- but anyway, arrivals in Chinese ports from Brazil have been declining steadily for the last 5 weeks, so we know the impact is not minor.
Early days in the construction of Vale's giant S11D mine- now the single largest IO mine in the world, and part of the Carajas mining system in the Carajas National Forest, Para- just 50ks from Parauapebas
Iron ore price, page-21454
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